Shares of M&T Bank Co. (NYSE:MTB – Get Free Report) have been assigned a consensus rating of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $158.48.
Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Morgan Stanley upped their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Finally, Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th.
Read Our Latest Report on M&T Bank
Insiders Place Their Bets
Hedge Funds Weigh In On M&T Bank
Several institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in shares of M&T Bank in the third quarter valued at about $833,000. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after acquiring an additional 305 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of M&T Bank in the third quarter valued at about $299,000. Metis Global Partners LLC grew its stake in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after acquiring an additional 931 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY grew its stake in shares of M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after acquiring an additional 12,590 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.
M&T Bank Stock Up 2.9 %
Shares of NYSE MTB opened at $143.38 on Friday. The stock has a market cap of $23.89 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.20 and a beta of 0.80. The firm has a 50 day moving average price of $139.96 and a 200 day moving average price of $133.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23.
M&T Bank (NYSE:MTB – Get Free Report) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the prior year, the firm posted $4.09 EPS. Analysts expect that M&T Bank will post 13.98 EPS for the current year.
M&T Bank Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.63%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.
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.
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