M&T Bank Corporation (NYSE:MTB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of M&T Bank Corporation (NYSE:MTB) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $213.6563.

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Truist Financial lowered M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 price target on the stock. in a research note on Friday. TD Cowen lifted their price target on M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a report on Monday, October 20th. Jefferies Financial Group increased their price objective on shares of M&T Bank from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Finally, Piper Sandler initiated coverage on shares of M&T Bank in a research report on Monday, October 6th. They issued an “overweight” rating and a $225.00 target price on the stock.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher E. Kay sold 5,250 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the sale, the executive vice president directly owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This trade represents a 48.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Wealth Preservation Advisors LLC acquired a new position in M&T Bank during the first quarter valued at approximately $25,000. WPG Advisers LLC purchased a new position in shares of M&T Bank in the 1st quarter valued at $25,000. Bank of Jackson Hole Trust lifted its holdings in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares in the last quarter. Triumph Capital Management purchased a new stake in M&T Bank during the 3rd quarter worth $32,000. Finally, Golden State Wealth Management LLC increased its holdings in M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $203.74 on Wednesday. The firm has a 50 day simple moving average of $187.38 and a 200-day simple moving average of $191.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $31.31 billion, a PE ratio of 12.55, a P/E/G ratio of 0.97 and a beta of 0.61. M&T Bank has a 1-year low of $150.75 and a 1-year high of $207.29.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The firm had revenue of $1.54 billion for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. On average, equities analysts expect that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.9%. M&T Bank’s payout ratio is currently 36.95%.

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.