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 Analyst Weigh In
Several equities analysts have issued reports on the company. Jefferies Financial Group dropped their price target on M&T Bank from $192.00 to $175.00 and set a "hold" rating on the stock in a research note on Monday, July 11th. Robert W. Baird upgraded shares of M&T Bank from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $175.00 to $200.00 in a report on Friday, June 17th. Piper Sandler boosted their target price on M&T Bank from $200.00 to $210.00 in a research report on Wednesday, April 20th. Wells Fargo & Company cut their price target on M&T Bank from $195.00 to $175.00 and set an "equal weight" rating on the stock in a report on Friday, July 1st. Finally, StockNews.com downgraded M&T Bank from a "hold" rating to a "sell" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank has an average rating of "Moderate Buy" and a consensus price target of $198.71.
M&T Bank Stock Up 0.3 %
M&T Bank stock traded up $0.66 during midday trading on Monday, hitting $190.48. 17,381 shares of the stock were exchanged, compared to its average volume of 1,425,315. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $34.18 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 0.84 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 business's 50-day moving average price is $167.64 and its 200-day moving average price is $171.47.
M&T Bank (NYSE:MTB - Get Rating) last released its earnings results on Wednesday, July 20th. The financial services provider reported $1.08 earnings per share (EPS) 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 business earned $3.45 earnings per share. On average, research analysts expect that M&T Bank will post 15.21 EPS for the current fiscal year.
M&T Bank Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 1st were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Tuesday, May 31st. M&T Bank's dividend payout ratio (DPR) is currently 44.61%.
Insider Activity at M&T Bank
In other M&T Bank news, Director Kirk W. Walters sold 21,116 shares of M&T Bank stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $180.00, for a total value of $3,800,880.00. Following the sale, the director now owns 6,134 shares of the company's stock, valued at $1,104,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 21,116 shares of the business's stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total value of $3,800,880.00. Following the sale, the director now directly owns 6,134 shares in the company, valued at $1,104,120. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christopher E. Kay sold 2,200 shares of the stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $178.83, for a total value of $393,426.00. Following the transaction, the executive vice president now owns 5,350 shares of the company's stock, valued at approximately $956,740.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,841 shares of company stock worth $5,136,212. 0.73% of the stock is owned by company insiders.
