M&T Bank Corporation (NYSE:MTB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

M&T Bank Corporation (NYSE:MTB) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $212.8750.

A number of research firms have recently commented on MTB. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Thursday, April 24th. Morgan Stanley increased their target price on M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. TD Cowen began coverage on M&T Bank in a research report on Thursday, May 15th. They set a “buy” rating and a $230.00 target price for the company. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the company a “buy” rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company increased their target price on M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a research report on Thursday, July 17th.

Insider Activity

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter D’arcy sold 2,461 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,438 shares of company stock worth $1,967,346. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several institutional investors have recently made changes to their positions in MTB. Franklin Resources Inc. increased its stake in shares of M&T Bank by 84.9% during the fourth quarter. Franklin Resources Inc. now owns 39,726 shares of the financial services provider’s stock valued at $7,469,000 after buying an additional 18,245 shares during the period. Aviva PLC grew its stake in M&T Bank by 43.5% in the fourth quarter. Aviva PLC now owns 45,388 shares of the financial services provider’s stock valued at $8,533,000 after purchasing an additional 13,768 shares during the last quarter. Russell Investments Group Ltd. grew its stake in M&T Bank by 1.0% in the fourth quarter. Russell Investments Group Ltd. now owns 73,383 shares of the financial services provider’s stock valued at $13,803,000 after purchasing an additional 717 shares during the last quarter. Quadrant Capital Group LLC grew its stake in M&T Bank by 5.8% in the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 53 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in M&T Bank by 9.2% in the fourth quarter. Cerity Partners LLC now owns 34,496 shares of the financial services provider’s stock valued at $6,382,000 after purchasing an additional 2,905 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 1.1%

Shares of MTB opened at $193.25 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank has a 1 year low of $150.75 and a 1 year high of $225.70. The company has a 50 day simple moving average of $191.33 and a two-hundred day simple moving average of $183.98. The firm has a market cap of $30.20 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 0.94 and a beta of 0.63.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $3.73 EPS. On average, equities analysts expect that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio (DPR) is currently 34.97%.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.