M&T Bank Corporation (NYSE:MTB) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts assign M&T a consensus rating of "Hold" from 21 analysts (1 sell, 12 hold, 7 buy, 1 strong buy) with an average 12‑month price target of $230.24.
• The board approved a $5.00 billion share repurchase plan (up to 16.7% of shares) and the company pays a $1.50 quarterly dividend ($6.00 annualized, ~2.7% yield), indicating shareholder-return focus.
• Latest quarter: EPS of $4.72 beat estimates ($4.47) while revenue of $1.79B missed consensus ($2.47B); M&T trades with a market cap around $33B and a P/E of ~13.

Shares of M&T Bank Corporation (NYSE:MTB - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty-one analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $230.2368.

Several brokerages have recently weighed in on MTB. Cantor Fitzgerald boosted their price objective on shares of M&T Bank from $238.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada boosted their price objective on shares of M&T Bank from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Friday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $220.00 to $230.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 17th. Evercore downgraded shares of M&T Bank from an "outperform" rating to a "hold" rating and boosted their price objective for the stock from $210.00 to $225.00 in a research report on Tuesday, January 6th. Finally, Wolfe Research downgraded shares of M&T Bank from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 7th.

M&T Bank Stock Up 0.6%

Shares of NYSE:MTB opened at $221.22 on Tuesday. The company has a market capitalization of $32.96 billion, a PE ratio of 12.97, a P/E/G ratio of 1.09 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank has a twelve month low of $154.00 and a twelve month high of $239.00. The firm has a 50 day simple moving average of $216.02 and a 200-day simple moving average of $203.72.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter in the previous year, the firm earned $3.77 EPS. On average, equities analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, March 2nd. M&T Bank's payout ratio is presently 35.19%.

M&T Bank declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 909 shares of M&T Bank stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the transaction, the director directly owned 5,976 shares of the company's stock, valued at $1,358,763.12. The trade was a 13.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Barnes sold 21,193 shares of M&T Bank stock in a transaction on Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the completion of the transaction, the director directly owned 15,142 shares in the company, valued at $3,571,240.70. The trade was a 58.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 49,092 shares of company stock valued at $11,182,250. Insiders own 0.44% of the company's stock.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors have recently modified their holdings of MTB. Empowered Funds LLC increased its stake in M&T Bank by 11.9% in the 1st quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider's stock valued at $607,000 after buying an additional 362 shares during the period. Woodline Partners LP increased its stake in M&T Bank by 40.7% in the 1st quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider's stock valued at $2,506,000 after buying an additional 4,054 shares during the period. Lazard Asset Management LLC increased its stake in M&T Bank by 24.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider's stock valued at $562,000 after buying an additional 572 shares during the period. MUFG Securities EMEA plc acquired a new position in M&T Bank in the 2nd quarter valued at $92,000. Finally, CYBER HORNET ETFs LLC acquired a new position in M&T Bank in the 2nd quarter valued at $84,000. 84.68% of the stock is owned by institutional investors and hedge funds.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

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