Shares of M&T Bank Corp. (NYSE:MTB) have been given a consensus recommendation of “Hold” by the twenty-seven analysts that are presently covering the firm. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $142.81.
A number of equities research analysts have weighed in on MTB shares. Wedbush started coverage on M&T Bank Corp. in a research report on Thursday. They set a “neutral” rating and a $117.00 price target on the stock. Zacks Investment Research downgraded M&T Bank Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Credit Agricole SA raised their price target on M&T Bank Corp. from $128.00 to $129.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd. Barclays PLC restated a “buy” rating on shares of M&T Bank Corp. in a research report on Friday, August 12th. Finally, Robert W. Baird restated an “underperform” rating on shares of M&T Bank Corp. in a research report on Thursday, August 4th.
M&T Bank Corp. (NYSE:MTB) traded down 0.663% during midday trading on Friday, hitting $117.555. The company’s stock had a trading volume of 221,864 shares. The company has a market cap of $18.43 billion, a PE ratio of 16.163 and a beta of 0.75. The stock has a 50 day moving average of $116.63 and a 200 day moving average of $115.90. M&T Bank Corp. has a 52-week low of $100.08 and a 52-week high of $127.39.
M&T Bank Corp. (NYSE:MTB) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.08 by $0.10. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.32 billion. M&T Bank Corp. had a net margin of 22.07% and a return on equity of 8.58%. M&T Bank Corp.’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. On average, equities analysts expect that M&T Bank Corp. will post $7.96 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 1st were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.80 annualized dividend and a yield of 2.37%. M&T Bank Corp.’s dividend payout ratio (DPR) is presently 38.41%.
In related news, insider Michael J. Todaro sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $117.57, for a total value of $199,869.00. Following the transaction, the insider now directly owns 2,972 shares of the company’s stock, valued at approximately $349,418.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Drew J. Pfirrman sold 3,920 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $114.44, for a total value of $448,604.80. Following the completion of the transaction, the vice president now directly owns 3,590 shares in the company, valued at $410,839.60. The disclosure for this sale can be found here. 3.63% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Euclid Advisors LLC acquired a new position in M&T Bank Corp. during the second quarter valued at about $128,000. NEXT Financial Group Inc boosted its position in M&T Bank Corp. by 36.5% in the second quarter. NEXT Financial Group Inc now owns 1,096 shares of the company’s stock valued at $129,000 after buying an additional 293 shares during the period. Investment Counselors of Maryland LLC boosted its position in M&T Bank Corp. by 3.5% in the second quarter. Investment Counselors of Maryland LLC now owns 1,484 shares of the company’s stock valued at $175,000 after buying an additional 50 shares during the period. Global X Management Co. LLC boosted its position in M&T Bank Corp. by 99.3% in the second quarter. Global X Management Co. LLC now owns 1,694 shares of the company’s stock valued at $200,000 after buying an additional 844 shares during the period. Finally, Burney Co. acquired a new position in M&T Bank Corp. during the second quarter valued at about $203,000. 78.77% of the stock is currently owned by institutional investors and hedge funds.
M&T Bank Corp. Company Profile
M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.
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