M&T Bank Corporation (NYSE:MTB) Receives $228.50 Consensus PT from Analysts

M&T Bank Corporation (NYSE:MTB) has earned a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $228.50.

MTB has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $217.00 to $244.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Wells Fargo & Company upped their price target on M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. Jefferies Financial Group raised their price objective on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Evercore downgraded M&T Bank from an “outperform” rating to a “hold” rating and boosted their target price for the stock from $210.00 to $225.00 in a research report on Tuesday, January 6th.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 21,193 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the completion of the transaction, the director directly owned 15,142 shares in the company, valued at approximately $3,571,240.70. This trade represents a 58.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the sale, the insider directly owned 16,446 shares in the company, valued at $3,548,882.34. This trade represents a 5.12% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,855 shares of company stock valued at $9,341,446. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently bought and sold shares of the stock. Canoe Financial LP grew its holdings in shares of M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares in the last quarter. LSV Asset Management boosted its position in 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 worth $67,665,000 after acquiring an additional 56,750 shares during the last quarter. Plato Investment Management Ltd grew its stake in M&T Bank by 54.3% in the 3rd quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock worth $1,618,000 after acquiring an additional 2,905 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in M&T Bank by 120.3% in the 3rd 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 last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in M&T Bank by 19.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock valued at $17,140,000 after acquiring an additional 13,889 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 3.9%

M&T Bank stock opened at $216.56 on Monday. The stock’s 50 day moving average price is $218.15 and its 200 day moving average price is $201.43. M&T Bank has a 1-year low of $150.75 and a 1-year high of $239.00. The company has a market cap of $32.27 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the prior year, the business posted $3.77 earnings per share. On average, sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a $1.50 dividend. The ex-dividend date is Monday, March 2nd. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s payout ratio is currently 35.19%.

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.