M&T Bank Co. (NYSE: MTB) Receives Consensus “Hold” Recommendation From Brokerages
M&T Bank Co. (NYSE:MTB) was given a consensus rating of “Hold” by the thirteen research firms that currently cover the stock, MarketBeat Ratings reports. Seven research analysts gave the stock a hold rating and five gave the company a buy rating. The 12-month average target price among analysts who have covered the stock over the past year is $174.15.
Mountain biking has been the subject of several research reports. Jefferies Financial Group reissued a “hold” rating on M&T Bank shares in a research report on Thursday, November 11. Zacks Investment Research downgraded M&T Bank shares from a “buy” rating to a “hold” rating and set a price target of $162.00 for the company. in a research report on Thursday, September 30. Barclays raised its price target on M&T Bank shares from $167.00 to $195.00 in a Monday, January 3 research report. Piper Sandler raised her price target on M&T Bank shares from $150.00 to $170.00 and gave the stock a “neutral” rating in a Thursday, October 21 research report. Finally, Morgan Stanley assumed coverage for M&T Bank shares in a report released on Tuesday. They set an “equal weight” rating and a target price of $195.00 for the company.
NYSE: MTB traded at $2.13 during Friday trading hours, hitting $185.34. The stock recorded a trading volume of 1,681,018 shares, compared to an average volume of 1,052,804 shares. M&T Bank has a one-year low of $128.46 and a one-year high of $185.38. The company has a debt ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $23.85 billion, a price/earnings ratio of 13.29, a P/E/G ratio of 0.89 and a beta of 1.08. The company’s 50-day moving average is $157.79 and its 200-day moving average is $148.09.
M&T Bank Inc (NYSE:MTB) last released its results on Tuesday, October 19. The financial services provider reported EPS of $3.69 for the quarter, beating Thomson Reuters consensus estimate of $3.50 by $0.19. M&T Bank posted a net margin of 30.39% and a return on equity of 12.37%. The company posted revenue of $1.54 billion in the quarter, versus a consensus estimate of $1.47 billion. In the same quarter of the previous year, the company had earned earnings per share of $2.77. On average, sell-side analysts expect M&T Bank to post EPS of 13.86 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 31. Shareholders of record on Tuesday, November 30 received a dividend of $1.20. The ex-dividend date was Monday, November 29. This represents a dividend of $4.80 on an annualized basis and a yield of 2.59%. This is a boost from M&T Bank’s previous quarterly dividend of $1.10. M&T Bank’s dividend payout ratio (DPR) is currently 34.41%.
In other news, EVP D Scott N. Warman sold 3,964 shares in a trade dated Friday, November 12. The shares were sold at an average price of $159.88, for a total value of $633,764.32. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, Executive Vice President Robert J. Bojdak sold 770 shares of the company in a transaction dated Monday, October 25. The stock was sold at an average price of $158.76, for a total transaction of $122,245.20. The disclosure of this sale can be found here. 0.64% of the shares are held by insiders.
A number of hedge funds have recently increased or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its stake in M&T Bank by 1.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 3,993 shares of the financial services provider valued at $596,000 after buying 64 additional shares during the period. Gemmer Asset Management LLC increased its position in M&T Bank by 53.2% in the third quarter. Gemmer Asset Management LLC now owns 193 shares of the financial services provider worth $29,000 after purchasing an additional 67 shares during the period. Wedbush Securities Inc. increased its position in M&T Bank by 3.9% in the 4th quarter. Wedbush Securities Inc. now owns 1,859 shares of the financial services provider worth $286,000 after purchasing an additional 69 shares during the period. Spire Wealth Management increased its position in M&T Bank by 8.3% in the 4th quarter. Spire Wealth Management now owns 896 shares of the financial services provider worth $138,000 after purchasing an additional 69 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in M&T Bank by 2.0% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,631 shares of the financial services provider worth $542,000 after purchasing an additional 70 shares during the period. 85.30% of the shares are currently held by hedge funds and other institutional investors.
About M&T Bank
M&T Bank Corp. operates as a bank holding company, which provides retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Corporate Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.
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