M&T Bank Corporation (NYSE:MTB) Receives $235.58 Consensus Price Target from Analysts

M&T Bank Corporation (NYSE:MTB) has earned an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $236.00.

MTB has been the subject of several research analyst reports. Argus lifted their target price on M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. UBS Group set a $235.00 price target on shares of M&T Bank in a report on Thursday, April 16th. Morgan Stanley raised their price target on shares of M&T Bank from $245.00 to $253.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. DA Davidson lifted their price objective on shares of M&T Bank from $233.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 6th.

M&T Bank Trading Down 0.0%

MTB opened at $238.85 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50 day moving average price is $220.63 and its 200-day moving average price is $216.35. M&T Bank has a one year low of $174.76 and a one year high of $243.57. The stock has a market cap of $34.98 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.17 and a beta of 0.57.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company earned $3.32 EPS. On average, equities analysts forecast that M&T Bank will post 18.8 EPS for the current year.

M&T Bank announced that its board has authorized a stock buyback plan on Tuesday, March 31st that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes 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 board believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 1st. M&T Bank’s payout ratio is currently 33.59%.

Insider Activity

In related news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in MTB. Fisher Asset Management LLC lifted its position in shares of 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 worth $7,157,000 after purchasing an additional 14,135 shares during the period. Delphi Management Inc. MA bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $1,524,000. Entropy Technologies LP purchased a new position in M&T Bank during the third quarter valued at approximately $4,571,000. LSV Asset Management increased its holdings in M&T Bank by 14.5% during the fourth quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock valued at $78,960,000 after buying an additional 49,500 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in M&T Bank by 101.8% in the third quarter. B. Metzler seel. Sohn & Co. AG now owns 31,910 shares of the financial services provider’s stock worth $6,306,000 after buying an additional 16,101 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.