M&T Bank Corporation (NYSE:MTB) Receives $235.32 Average PT from Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have been given an average rating of “Hold” by the twenty-one ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $235.3158.

MTB has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Argus upped their price target on shares of M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, April 17th. DA Davidson upped their price target on shares of M&T Bank from $233.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Finally, UBS Group set a $235.00 price target on shares of M&T Bank in a research report on Thursday, April 16th.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the transaction, the executive vice president owned 6,753 shares of the company’s stock, valued at $1,462,024.50. This represents a 31.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael A. Wisler sold 8,237 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the transaction, the executive vice president directly owned 4,643 shares in the company, valued at $1,037,617.64. This trade represents a 63.95% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently made changes to their positions in the stock. LSV Asset Management boosted its position in shares of M&T Bank by 19.9% during the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after purchasing an additional 56,750 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of M&T Bank by 120.3% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock worth $3,542,000 after purchasing an additional 9,788 shares in the last quarter. Plato Investment Management Ltd lifted its position in M&T Bank by 54.3% in the 3rd quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 2,905 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in M&T Bank by 19.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock valued at $17,140,000 after acquiring an additional 13,889 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in M&T Bank by 64.0% in the 3rd quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock valued at $7,157,000 after acquiring an additional 14,135 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE MTB opened at $205.25 on Friday. The company has a market capitalization of $30.06 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.04 and a beta of 0.59. M&T Bank has a twelve month low of $174.76 and a twelve month high of $239.00. The stock has a fifty day simple moving average of $210.25 and a 200 day simple moving average of $207.76. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same quarter in the prior year, the firm posted $3.32 earnings per share. Sell-side analysts expect that M&T Bank will post 18.69 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. M&T Bank’s dividend payout ratio is 33.59%.

M&T Bank announced that its Board of Directors has approved a share buyback plan on Tuesday, March 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 16.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.