M&T Bank Co. (NYSE:MTB) Receives $158.48 Average Price Target from Brokerages

Shares of M&T Bank Co. (NYSE:MTB) have earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $158.48.

MTB has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Piper Sandler lowered their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th.

M&T Bank Stock Down 0.7 %

NYSE:MTB opened at $146.90 on Friday. The stock’s fifty day simple moving average is $140.84 and its 200-day simple moving average is $133.63. The firm has a market capitalization of $24.48 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.25.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the business earned $4.09 EPS. Equities research analysts expect that M&T Bank will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.54%. M&T Bank’s payout ratio is 35.16%.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock worth $5,341,012. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several hedge funds have recently bought and sold shares of the stock. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank during the fourth quarter worth approximately $25,000. RVW Wealth LLC bought a new position in M&T Bank during the 3rd quarter worth $27,000. General Partner Inc. acquired a new stake in shares of M&T Bank during the first quarter worth $27,000. Headinvest LLC bought a new stake in shares of M&T Bank in the third quarter valued at about $29,000. Finally, BKM Wealth Management LLC bought a new stake in M&T Bank in the 4th quarter valued at about $32,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.