M&T Bank Corporation (NYSE:MTB) Receives Average Recommendation of "Moderate Buy" from Analysts

M&T Bank Corporation (NYSE:MTB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-one ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $212.53.

A number of research analysts have recently issued reports on MTB shares. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research note on Thursday, April 24th. Robert W. Baird cut their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Barclays decreased their target price on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. TD Cowen started coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price target for the company. Finally, Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director now directly owns 23,070 shares in the company, valued at $4,233,806.40. This trade represents a 22.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of M&T Bank by 33.1% in the 1st quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock valued at $1,768,564,000 after buying an additional 2,460,315 shares in the last quarter. FMR LLC increased its holdings in shares of M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after acquiring an additional 1,761,014 shares in the last quarter. Norges Bank acquired a new stake in shares of M&T Bank during the fourth quarter worth about $317,690,000. Nuveen LLC acquired a new stake in shares of M&T Bank during the first quarter worth about $243,451,000. Finally, GAMMA Investing LLC lifted its holdings in shares of M&T Bank by 18,471.2% during the 1st quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock valued at $126,145,000 after purchasing an additional 701,905 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Down 1.2%

Shares of NYSE MTB opened at $178.16 on Wednesday. M&T Bank has a 52-week low of $144.63 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. The business has a fifty day moving average of $175.42 and a two-hundred day moving average of $184.75. The stock has a market cap of $28.60 billion, a PE ratio of 11.93, a PEG ratio of 1.31 and a beta of 0.62.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same quarter last year, the business earned $3.09 EPS. As a group, equities research analysts expect that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 3.03%. M&T Bank's dividend payout ratio is currently 36.17%.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.

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