Analysts Set M&T Bank Co. (NYSE:MTB) Price Target at $221.68

M&T Bank Co. (NYSE:MTB) has been assigned an average rating of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $221.68.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and increased their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Evercore ISI boosted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th.

Insider Transactions at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares in the company, valued at $1,095,678.54. The trade was a 20.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,994 shares of company stock worth $13,331,878 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently modified their holdings of the company. Plato Investment Management Ltd lifted its stake in M&T Bank by 2,300.0% in the 3rd 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 in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank in the third quarter worth $32,000. Hexagon Capital Partners LLC boosted its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares during the period. 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 worth $37,000 after buying an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in M&T Bank in the 3rd quarter worth about $44,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Up 0.9 %

NYSE MTB opened at $198.81 on Friday. The stock has a market capitalization of $32.99 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.37 and a beta of 0.79. The business has a 50 day simple moving average of $200.79 and a 200 day simple moving average of $185.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.99. M&T Bank has a one year low of $128.31 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 period last year, the company posted $2.74 earnings per share. Research analysts expect that M&T Bank will post 16.56 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.72%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 36.91%.

M&T Bank announced that its board has approved a stock buyback plan on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.