M&T Bank Co. (NYSE:MTB) Receives $221.68 Consensus Target Price from Analysts

M&T Bank Co. (NYSE:MTB - Get Free Report) has earned a consensus rating of "Hold" from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $222.03.

Several research firms have issued reports on MTB. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Morgan Stanley decreased their price target on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday. The Goldman Sachs Group increased their target price on M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Truist Financial reissued a "buy" rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th.

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M&T Bank Price Performance

Shares of NYSE:MTB traded down $1.79 during trading on Monday, reaching $170.28. 1,247,954 shares of the company's stock traded hands, compared to its average volume of 1,321,515. The firm has a market cap of $27.98 billion, a PE ratio of 11.64, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a 50-day simple moving average of $193.13 and a 200-day simple moving average of $191.92. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the business posted $2.74 earnings per share. As a group, analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $1.35 dividend. The ex-dividend date is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 3.17%. M&T Bank's dividend payout ratio (DPR) is currently 36.91%.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently made changes to their positions in MTB. Wood Tarver Financial Group LLC acquired a new stake in M&T Bank in the 4th quarter valued at approximately $29,000. Siemens Fonds Invest GmbH grew its stake in shares of M&T Bank by 78.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 3,202 shares of the financial services provider's stock valued at $600,000 after buying an additional 1,412 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of M&T Bank in the 4th quarter valued at $101,000. Ascent Group LLC lifted its stake in M&T Bank by 9.2% during the 4th quarter. Ascent Group LLC now owns 16,998 shares of the financial services provider's stock worth $3,196,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in M&T Bank by 12.7% during the 4th quarter. Mackenzie Financial Corp now owns 20,976 shares of the financial services provider's stock valued at $3,944,000 after acquiring an additional 2,361 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.