M&T Bank Corporation (NYSE:MTB) Given Consensus Recommendation of “Hold” by Analysts

M&T Bank Corporation (NYSE:MTB) has been given an average recommendation of “Hold” by the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $235.3158.

A number of analysts have recently commented on the company. Cantor Fitzgerald dropped their price objective on M&T Bank from $255.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. The Goldman Sachs Group boosted their price objective on M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, April 6th. Argus boosted their target price on shares of M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, April 17th. JPMorgan Chase & Co. dropped their target price on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley dropped their target price on shares of M&T Bank from $271.00 to $245.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st.

Insider Activity

In other news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the sale, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. The trade was a 31.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. LSV Asset Management raised its holdings in shares of M&T Bank by 19.9% during the third quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock valued at $67,665,000 after acquiring an additional 56,750 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of M&T Bank by 120.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock valued at $3,542,000 after acquiring an additional 9,788 shares during the period. Plato Investment Management Ltd raised its holdings in shares of M&T Bank by 54.3% during the third quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 2,905 shares during the period. Fisher Asset Management LLC raised its holdings in shares of M&T Bank by 64.0% during the third quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock valued at $7,157,000 after acquiring an additional 14,135 shares during the period. Finally, Delphi Management Inc. MA acquired a new stake in shares of M&T Bank during the fourth quarter valued at approximately $1,524,000. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Up 0.2%

MTB stock opened at $222.85 on Wednesday. M&T Bank has a 52 week low of $174.76 and a 52 week high of $239.00. The company has a market capitalization of $32.64 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The firm’s 50-day moving average is $213.75 and its two-hundred day moving average is $211.09. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $3.32 EPS. On average, analysts forecast that M&T Bank will post 18.69 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s payout ratio is 33.59%.

M&T Bank announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 31st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 16.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.