Barclays Has Lowered Expectations for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB - Free Report) had its price objective reduced by Barclays from $235.00 to $220.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

Several other brokerages also recently commented on MTB. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. DA Davidson decreased their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley dropped their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Evercore ISI reduced their price objective on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $208.14.

M&T Bank Stock Performance

M&T Bank stock traded up $1.19 during mid-day trading on Tuesday, reaching $160.09. 1,105,142 shares of the stock traded hands, compared to its average volume of 1,111,223. M&T Bank has a 12-month low of $139.78 and a 12-month high of $225.70. The business's 50-day moving average is $177.25 and its 200-day moving average is $191.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The stock has a market capitalization of $26.30 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $3.09 EPS. As a group, sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has authorized a share buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Lesa Sroufe & Co acquired a new stake in shares of M&T Bank during the 1st quarter worth approximately $4,085,000. Grove Bank & Trust increased its holdings in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after buying an additional 114 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of M&T Bank by 7.2% in the first quarter. QRG Capital Management Inc. now owns 2,868 shares of the financial services provider's stock worth $513,000 after acquiring an additional 193 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of M&T Bank by 1.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 86,078 shares of the financial services provider's stock worth $15,386,000 after acquiring an additional 1,605 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of M&T Bank by 53.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 184 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.