M&T Bank Corporation (NYSE:MTB) Receives Consensus Rating of “Hold” from Brokerages

M&T Bank Corporation (NYSE:MTB) has been given a consensus recommendation of “Hold” by the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $253.4250.

A number of equities research analysts recently commented on MTB shares. Wells Fargo & Company upped their price target on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Jefferies Financial Group reissued a “buy” rating and issued a $300.00 price target on shares of M&T Bank in a report on Wednesday, July 15th. UBS Group boosted their price objective on shares of M&T Bank from $252.00 to $255.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Robert W. Baird upped their price objective on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Barclays increased their target price on shares of M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $240.61 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day simple moving average is $243.19 and its two-hundred day simple moving average is $225.55. The stock has a market capitalization of $34.75 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57. M&T Bank has a one year low of $174.76 and a one year high of $255.95.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $4.28 earnings per share. Analysts forecast that M&T Bank will post 19.43 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. M&T Bank’s dividend payout ratio is presently 31.68%.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently made changes to their positions in MTB. LSV Asset Management lifted its holdings in M&T Bank by 14.5% in the fourth quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after buying an additional 49,500 shares during the period. Adams Diversified Equity Fund Inc. boosted its position in M&T Bank by 22.8% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock valued at $24,786,000 after acquiring an additional 22,300 shares in the last quarter. Danske Bank A S purchased a new position in shares of M&T Bank during the 2nd quarter worth approximately $34,683,000. Allstate Corp grew its holdings in shares of M&T Bank by 99.4% during the 4th quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock worth $2,265,000 after acquiring an additional 5,604 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of M&T Bank by 34.8% in the 1st quarter. SG Americas Securities LLC now owns 85,770 shares of the financial services provider’s stock worth $17,730,000 after acquiring an additional 22,132 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank

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.