M&T Bank Co. (NYSE:MTB) Receives $198.76 Consensus PT from Brokerages

M&T Bank Co. (NYSE:MTB) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $198.76.

A number of brokerages recently weighed in on MTB. Wedbush boosted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Morgan Stanley raised their price target on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Wells Fargo & Company increased their price objective on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Finally, Bank of America lifted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th.

M&T Bank Price Performance

Shares of MTB opened at $214.64 on Tuesday. The company has a 50 day moving average of $182.71 and a 200-day moving average of $164.98. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $35.61 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.97 and a beta of 0.74. M&T Bank has a twelve month low of $116.07 and a twelve month high of $216.84.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. As a group, equities research analysts forecast that M&T Bank will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 39.97%.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 1,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the sale, the director now owns 2,108 shares in the company, valued at $443,143.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the transaction, the director now owns 29,796 shares of the company’s stock, valued at approximately $5,899,608. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirk W. Walters sold 1,590 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total transaction of $334,249.80. Following the transaction, the director now owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,088 shares of company stock worth $12,613,397. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Hedeker Wealth LLC lifted its holdings in M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 55 shares during the last quarter. Frank Rimerman Advisors LLC lifted its stake in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 57 shares in the last quarter. Crestwood Advisors Group LLC boosted its holdings in M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after buying an additional 57 shares during the period. Hexagon Capital Partners LLC grew its stake in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its stake in M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after buying an additional 69 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.