M&T Bank Corporation (NYSE:MTB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• M&T Bank Corporation has received a consensus rating of "Moderate Buy" from 21 analysts, with a one-year price target averaging $217.76.
• Recent insider transactions include Director John P. Barnes selling 15,000 shares for approximately $2.99 million, reducing his ownership by nearly 46%.
• The company has announced a quarterly dividend increase to $1.50, which translates to an annualized yield of 3.3%.

M&T Bank Corporation (NYSE:MTB - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-one ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $217.7632.

A number of analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. TD Cowen increased their price objective on M&T Bank from $235.00 to $245.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler initiated coverage on M&T Bank in a report on Monday, October 6th. They set an "overweight" rating and a $225.00 target price for the company. DA Davidson upped their target price on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Evercore ISI upped their target price on M&T Bank from $222.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the transaction, the director owned 17,866 shares in the company, valued at approximately $3,569,448.14. This represents a 45.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Preservation Advisors LLC purchased a new stake in shares of M&T Bank during the first quarter valued at $25,000. WPG Advisers LLC purchased a new stake in shares of M&T Bank during the first quarter valued at $25,000. Golden State Wealth Management LLC boosted its position in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider's stock valued at $31,000 after buying an additional 155 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of M&T Bank during the second quarter valued at $36,000. Finally, Family Legacy Financial Solutions LLC purchased a new stake in shares of M&T Bank during the second quarter valued at $46,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Up 0.9%

MTB stock opened at $182.24 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The company's 50 day moving average is $194.75 and its 200 day moving average is $186.63. The stock has a market cap of $28.48 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 0.90 and a beta of 0.62. M&T Bank has a 1-year low of $150.75 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The business had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. Sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.3%. This is a positive change from M&T Bank's previous quarterly dividend of $1.35. The ex-dividend date was Tuesday, September 2nd. M&T Bank's dividend payout ratio is currently 36.95%.

About M&T Bank

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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