M&T Bank Co. (NYSE:MTB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

M&T Bank Co. (NYSE:MTB) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $185.75.

A number of research firms have weighed in on MTB. DA Davidson upped their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $187.00 to $210.00 in a research report on Wednesday, October 2nd. Jefferies Financial Group upped their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Wedbush upped their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $198.83 on Friday. The company has a market capitalization of $33.17 billion, a P/E ratio of 13.44, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank has a 1-year low of $108.53 and a 1-year high of $200.94. The firm’s 50 day simple moving average is $172.23 and its two-hundred day simple moving average is $158.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the business posted $5.12 earnings per share. Research analysts expect that M&T Bank will post 14.16 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.72%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 over the last 90 days. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. Novak & Powell Financial Services Inc. purchased a new stake in shares of M&T Bank in the fourth quarter valued at $221,000. Sierra Summit Advisors LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $6,438,000. Speece Thorson Capital Group Inc. raised its stake in shares of M&T Bank by 0.4% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 147,660 shares of the financial services provider’s stock valued at $20,241,000 after acquiring an additional 634 shares during the period. Virtu Financial LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $618,000. Finally, Fisher Asset Management LLC increased its stake in M&T Bank by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock worth $2,177,000 after buying an additional 439 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.