M&T Bank’s (MTB) “Neutral” Rating Reiterated at DA Davidson

DA Davidson restated their neutral rating on shares of M&T Bank (NYSE:MTB) in a research note released on Tuesday morning, Benzinga reports. DA Davidson currently has a $159.00 price objective on the financial services provider’s stock. DA Davidson also issued estimates for M&T Bank’s FY2024 earnings at $13.92 EPS and FY2025 earnings at $15.93 EPS.

A number of other equities analysts have also issued reports on the stock. Wedbush reissued an outperform rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Barclays raised their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Royal Bank of Canada reaffirmed an outperform rating and set a $160.00 price target on shares of M&T Bank in a research report on Tuesday. Wells Fargo & Company boosted their price objective on M&T Bank from $145.00 to $150.00 and gave the company an equal weight rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods upped their target price on M&T Bank from $162.00 to $170.00 and gave the stock a market perform rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $158.48.

M&T Bank Stock Performance

Shares of MTB stock opened at $139.30 on Tuesday. The business has a fifty day moving average of $139.76 and a 200 day moving average of $132.81. M&T Bank has a 1 year low of $108.53 and a 1 year high of $148.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm has a market capitalization of $23.21 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company posted $4.09 earnings per share. As a group, research analysts expect that M&T Bank will post 13.93 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.73%. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the sale, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $718,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC acquired a new stake in M&T Bank during the 4th quarter worth $25,000. Clear Street Markets LLC acquired a new stake in M&T Bank during the 4th quarter worth $25,000. RVW Wealth LLC acquired a new stake in M&T Bank during the 3rd quarter worth $27,000. General Partner Inc. acquired a new stake in M&T Bank during the 1st quarter worth $27,000. Finally, Quarry LP acquired a new stake in M&T Bank during the 1st quarter worth $27,000. Institutional investors and hedge funds 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.