Shares of M&T Bank Co. (NYSE:MTB - Get Free Report) have earned a consensus recommendation of "Hold" from the seventeen research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $215.97.
Several equities research analysts have issued reports on the company. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a report on Friday, March 28th. Citigroup cut their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Compass Point boosted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Finally, 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.
View Our Latest Report on MTB
Insiders Place Their Bets
In other news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company's stock.
Institutional Trading of M&T Bank
A number of hedge funds have recently made changes to their positions in the stock. Wood Tarver Financial Group LLC purchased a new position in M&T Bank in the 4th quarter worth approximately $29,000. Banque Transatlantique SA bought a new stake in M&T Bank in the 4th quarter worth approximately $38,000. Y.D. More Investments Ltd raised its stake in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after buying an additional 114 shares during the last quarter. Human Investing LLC bought a new position in shares of M&T Bank during the 4th quarter valued at $44,000. Finally, Sierra Ocean LLC purchased a new position in shares of M&T Bank in the 4th quarter worth $44,000. 84.68% of the stock is owned by institutional investors.
M&T Bank Price Performance
Shares of MTB traded up $11.54 during trading hours on Friday, reaching $168.12. 1,751,788 shares of the company's stock traded hands, compared to its average volume of 1,110,899. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm's 50 day simple moving average is $182.84 and its 200-day simple moving average is $191.99. The stock has a market cap of $27.62 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank has a 12 month low of $133.03 and a 12 month high of $225.70.
M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $2.74 earnings per share. Equities analysts expect that M&T Bank will post 16.57 EPS for the current year.
M&T Bank announced that its board has authorized a stock buyback plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.
M&T Bank Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.91%.
About M&T Bank
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Get Free ReportM&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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.
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