M&T Bank Corporation (MTB) – What Are Analysts Thinking About This Stock?

Shares of M&T Bank Corporation (NYSE:MTB) have earned an average rating of “Hold” from the twenty-three ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $250.21.

MTB has been the subject of a number of research analyst reports. Robert W. Baird upped their target price on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. UBS Group decreased their price target on M&T Bank from $255.00 to $238.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Morgan Stanley lowered their price target on M&T Bank from $304.00 to $301.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Wells Fargo & Company boosted their price objective on M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Finally, Barclays boosted their price objective on M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th.

M&T Bank Trading Up 1.1%

Shares of NYSE:MTB opened at $219.78 on Tuesday. The company has a 50 day moving average of $234.71 and a 200-day moving average of $228.33. The firm has a market cap of $31.74 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.23 and a beta of 0.61. M&T Bank has a twelve month low of $174.76 and a twelve month high of $255.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm posted $4.28 earnings per share. As a group, analysts anticipate that M&T Bank will post 19.42 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, September 1st. M&T Bank’s payout ratio is presently 31.68%.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rene F. Jones sold 19,396 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the transaction, the chief executive officer owned 103,831 shares of the company’s stock, valued at approximately $24,851,949.85. This trade represents a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 20,028 shares of company stock worth $4,794,884. 0.44% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in MTB. Bank of New York Mellon Corp acquired a new stake in shares of M&T Bank during the second quarter worth $330,978,000. Davis Asset Management L.P. purchased a new stake in shares of M&T Bank during the second quarter valued at $97,584,000. Squarepoint Ops LLC boosted its position in shares of M&T Bank by 718.5% in the 2nd quarter. Squarepoint Ops LLC now owns 224,397 shares of the financial services provider’s stock valued at $53,409,000 after purchasing an additional 196,982 shares during the period. Danske Bank A S acquired a new position in shares of M&T Bank in the 2nd quarter valued at $34,683,000. Finally, Susquehanna Fundamental Investments LLC boosted its position in shares of M&T Bank by 205.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 110,553 shares of the financial services provider’s stock valued at $26,313,000 after purchasing an additional 74,353 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.