M&T Bank Co. (NYSE:MTB) Receives Consensus Rating of "Hold" from Brokerages

M&T Bank Co. (NYSE:MTB - Get Free Report) has received an average rating of "Hold" from the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $221.68.

MTB has been the topic of several research reports. DA Davidson lifted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, January 17th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $223.50 target price (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Citigroup downgraded shares of M&T Bank from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Barclays lifted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group boosted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the transaction, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,611 shares of company stock valued at $5,354,777. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd increased its position in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank during the third quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. grew its position in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. Y.D. More Investments Ltd grew its position in M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 114 shares during the last quarter. Finally, Human Investing LLC bought a new position in M&T Bank during the fourth quarter valued at approximately $44,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Price Performance

MTB stock traded up $1.61 during mid-day trading on Thursday, hitting $198.75. The stock had a trading volume of 1,197,277 shares, compared to its average volume of 1,306,269. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank has a 52 week low of $133.03 and a 52 week high of $225.70. The firm has a market capitalization of $32.98 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.42 and a beta of 0.79. The firm has a fifty day simple moving average of $195.59 and a 200 day simple moving average of $188.90.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the firm posted $2.74 EPS. As a group, research analysts forecast that M&T Bank will post 16.56 EPS for the current year.

M&T Bank announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Monday, December 2nd. M&T Bank's payout ratio is 36.91%.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.