M&T Bank Co. (NYSE:MTB) Receives Average Analyst Rating of “Hold”

M&T Bank Co. (NYSE:MTB – Get Rating) earned an average recommendation of “Hold” from the sixteen research firms that currently cover the stock, Marketbeat.com reports. Seven equity 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 reported on the stock in the past year is $193.88.

Mountain biking has been the subject of several research reports. Piper Sandler raised her price target on M&T Bank shares from $200.00 to $210.00 in a Wednesday, April 20 report. Goldman Sachs Group raised its price target on M&T Bank shares from $183.00 to $210.00 and gave the company a “neutral” rating in a Monday, April 4 report. JPMorgan Chase & Co. began covering M&T Bank shares in a Thursday, April 14, report. They set a “neutral” rating for the company. Wells Fargo & Company raised its price target on M&T Bank shares from $180.00 to $195.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised its price target on M&T Bank shares from $180.00 to $200.00 in a Friday, March 25 research report.

MTB traded down $0.78 during Monday’s trading, hitting $173.19. 27,819 shares of the company were traded, against an average volume of 1,748,992. M&T Bank has a one-year low of $128.46 and a one-year high of $186.95. The company has a current ratio of 1.00, a quick ratio of 1.06 and a debt ratio of 0.21. The stock has a market capitalization of $22.35 billion, a PE ratio of 13.13, a growth price-earnings ratio of 2.13 and a beta of 0.92. The company has a fifty-day moving average price of $173.90 and a two-hundred-day moving average price of $165.39.

M&T Bank (NYSE:MTB – Get Rating) last released quarterly earnings data on Wednesday, April 20. The financial services provider reported EPS of $2.62 for the quarter, beating the Zacks consensus estimate of $2.38 by $0.24. M&T Bank posted a net margin of 29.31% and a return on equity of 11.45%. During the same period last year, the company posted EPS of $3.41. Sell-side analysts expect M&T Bank to post earnings per share of 12.73 for the current year.

M&T Bank said its board authorized a share buyback program on Tuesday, Feb. 22 that allows the company to repurchase $800.00 million worth of stock. This repurchase authorization allows the financial services provider to repurchase up to 3.4% of its shares through purchases on the open market. Stock buyback programs are often a sign that a company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31. Investors of record on Monday, February 28 received a dividend of $1.20 per share. The ex-dividend date was Friday, February 25. This represents a dividend of $4.80 on an annualized basis and a dividend yield of 2.77%. M&T Bank’s dividend payout ratio (DPR) is currently 36.67%.

Hedge funds have recently been buying and selling shares of the company. Richwood Investment Advisors LLC bought a new position in M&T Bank stock during Q4, valued at around $25,000. Riverview Trust Co bought a new position in M&T Bank shares during the first quarter worth $27,000. CVA Family Office LLC purchased a new stake in M&T Bank during the fourth quarter, valued at approximately $31,000. Moors & Cabot Inc. increased its holdings in M&T Bank by 696.6% in the third quarter. Moors & Cabot Inc. now owns 30,000 shares of the financial services provider worth $33,000 after acquiring an additional 26,234 shares last quarter. Finally, Edmond DE Rothschild Holding SA bought a new position in M&T Bank shares in the third quarter worth approximately $34,000. Institutional investors and hedge funds own 85.23% of the company’s shares.

M&T Bank Company Profile (Get an assessment)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Shawanda H. Saldana