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

M&T Bank Co. (NYSE:MTB) has been given a consensus recommendation of “Moderate Buy” by the twenty-one analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $212.53.

Several equities research analysts have recently commented on the stock. TD Cowen assumed coverage on shares of M&T Bank in a report on Thursday, May 15th. They issued a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company reduced their price objective on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday, April 15th. Cowen assumed coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They set a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th.

M&T Bank Trading Down 1.4%

NYSE:MTB opened at $181.60 on Friday. M&T Bank has a one year low of $139.78 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The firm has a market cap of $29.15 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.38 and a beta of 0.58. The firm has a 50-day simple moving average of $172.38 and a 200-day simple moving average of $188.34.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm posted $3.09 EPS. Equities analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $1.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.97%. M&T Bank’s dividend payout ratio is currently 36.17%.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of M&T Bank

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Preservation Advisors LLC acquired a new stake in shares of M&T Bank in the first quarter worth $25,000. WPG Advisers LLC acquired a new stake in shares of M&T Bank in the first quarter worth $25,000. Wood Tarver Financial Group LLC acquired a new stake in shares of M&T Bank in the fourth quarter worth $29,000. Banque Transatlantique SA acquired a new stake in shares of M&T Bank in the fourth quarter worth $38,000. Finally, Y.D. More Investments Ltd increased its stake in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.