M&T Bank - MTB Stock Forecast, Price & News

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers. The company's Commercial Real Estate segment originates, sells, and services commercial real estate loans; and offers deposit services. Its Discretionary Portfolio segment provides deposits; securities, residential real estate loans, and other assets; and short and long term borrowed funds, as well as foreign exchange services. The company's Residential Mortgage Banking segment offers residential real estate loans for consumers and sells those loans in the secondary market; and purchases servicing rights to loans originated by other entities. Its Retail Banking segment offers demand, savings, and time accounts; consumer installment loans, automobile and recreational finance loans, home equity loans and lines of credit, and credit cards; mutual funds and annuities; and other services. The company also provides trust and wealth management; fiduciary and custodial; insurance agency; institutional brokerage and securities; and investment management services. It offers its services through banking offices, business banking centers, telephone and internet banking, and automated teller machines. As of December 31, 2021, the company operates 688 domestic banking offices in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia; and a full-service commercial banking office in Ontario, Canada. M&T Bank Corporation was founded in 1856 and is headquartered in Buffalo, New York.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MTB. TheStreet cut shares of M&T Bank from a "b" rating to a "c+" rating in a research report on Wednesday, July 20th. Jefferies Financial Group decreased their price target on shares of M&T Bank from $192.00 to $175.00 and set a "hold" rating for the company in a research note on Monday, July 11th. Robert W. Baird raised shares of M&T Bank from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $175.00 to $200.00 in a research note on Friday, June 17th. Morgan Stanley upped their target price on shares of M&T Bank from $203.00 to $222.00 and gave the stock an "overweight" rating in a report on Thursday, July 21st. Finally, Wells Fargo & Company lowered their price objective on M&T Bank from $195.00 to $175.00 and set an "equal weight" rating for the company in a research note on Friday, July 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $198.71.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $2.95 during trading on Friday, hitting $189.82. 631,310 shares of the company were exchanged, compared to its average volume of 1,071,749. The company has a market cap of $34.06 billion, a PE ratio of 17.64, a P/E/G ratio of 0.83 and a beta of 0.91. M&T Bank has a 52-week low of $131.42 and a 52-week high of $189.88. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 1.05. The stock has a 50 day moving average of $167.64 and a 200 day moving average of $171.42.

M&T Bank (NYSE:MTB - Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($1.67). M&T Bank had a net margin of 23.21% and a return on equity of 10.76%. During the same period in the prior year, the firm earned $3.45 EPS. As a group, equities research analysts predict that M&T Bank will post 15.21 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.53%. M&T Bank's dividend payout ratio (DPR) is currently 44.61%.

Insider Buying and Selling

In other M&T Bank news, EVP Robert J. Bojdak sold 525 shares of the firm's stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $177.82, for a total value of $93,355.50. Following the sale, the executive vice president now owns 19,075 shares of the company's stock, valued at approximately $3,391,916.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Robert J. Bojdak sold 525 shares of the company's stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $177.82, for a total value of $93,355.50. Following the transaction, the executive vice president now directly owns 19,075 shares in the company, valued at $3,391,916.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 21,116 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total transaction of $3,800,880.00. Following the completion of the transaction, the director now directly owns 6,134 shares in the company, valued at approximately $1,104,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,841 shares of company stock worth $5,136,212. Corporate insiders own 0.73% of the company's stock.