Shares of M&T Bank Co. (NYSE:MTB) have been given an average recommendation of “Buy” by the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $180.18.
Several research firms have weighed in on MTB. ValuEngine cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. UBS Group raised shares of M&T Bank from a “sell” rating to a “neutral” rating in a report on Tuesday, January 8th. Morgan Stanley lowered their price target on shares of M&T Bank from $175.00 to $173.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. Barclays lowered their price target on shares of M&T Bank from $210.00 to $203.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Finally, Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price target on the stock in a report on Friday, January 18th.
M&T Bank stock opened at $153.79 on Wednesday. The stock has a market capitalization of $22.20 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.83 and a beta of 1.07. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank has a twelve month low of $133.78 and a twelve month high of $188.80.
M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $3.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.49 by $0.27. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same period in the prior year, the firm earned $2.66 EPS. As a group, equities analysts forecast that M&T Bank will post 14.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, March 1st. This represents a $4.00 annualized dividend and a dividend yield of 2.60%. M&T Bank’s dividend payout ratio is presently 31.10%.
In other news, CFO Darren J. King sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $164.56, for a total transaction of $1,645,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sabeth Siddique sold 365 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $165.67, for a total transaction of $60,469.55. Following the transaction, the insider now directly owns 1,464 shares in the company, valued at $242,540.88. The disclosure for this sale can be found here. Insiders have sold 17,766 shares of company stock worth $2,977,668 over the last ninety days. Insiders own 0.54% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MTB. FMR LLC increased its stake in M&T Bank by 74.1% in the fourth quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock valued at $851,195,000 after acquiring an additional 2,532,038 shares during the last quarter. Norges Bank bought a new position in M&T Bank in the fourth quarter valued at approximately $174,207,000. TIAA CREF Investment Management LLC increased its stake in M&T Bank by 118.1% in the third quarter. TIAA CREF Investment Management LLC now owns 872,268 shares of the financial services provider’s stock valued at $143,523,000 after acquiring an additional 472,403 shares during the last quarter. Janus Henderson Group PLC increased its stake in M&T Bank by 104.2% in the third quarter. Janus Henderson Group PLC now owns 727,518 shares of the financial services provider’s stock valued at $119,706,000 after acquiring an additional 371,263 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in M&T Bank in the third quarter valued at approximately $58,258,000. 79.97% of the stock is currently owned by institutional investors.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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