M&T Bank Co. (MTB) Given Consensus Rating of “Hold” by Brokerages
Shares of M&T Bank Co. (NYSE:MTB) have earned an average rating of “Hold” from the twenty-one ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $166.31.
MTB has been the topic of a number of research reports. Robert W. Baird restated a “sell” rating and set a $145.00 price objective on shares of M&T Bank in a research report on Friday, October 20th. Nomura upped their price target on M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Citigroup reiterated a “neutral” rating and issued a $170.00 price target (up previously from $160.00) on shares of M&T Bank in a research report on Monday, October 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $167.00 price target on shares of M&T Bank in a research report on Friday, September 22nd. Finally, Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $168.00 price target on the stock in a research report on Tuesday, September 19th.
Shares of M&T Bank (NYSE MTB) opened at $173.07 on Monday. The firm has a market capitalization of $25,970.00, a price-to-earnings ratio of 19.94, a P/E/G ratio of 2.12 and a beta of 0.84. M&T Bank has a 52-week low of $141.12 and a 52-week high of $176.62. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57.
M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. During the same quarter in the prior year, the firm earned $2.10 EPS. analysts forecast that M&T Bank will post 9.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 30th. M&T Bank’s dividend payout ratio is 34.56%.
In other news, insider Randolph Michael Kasum sold 530,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $0.08, for a total value of $42,400.00. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total value of $171,190.00. Following the completion of the transaction, the director now directly owns 52,049 shares in the company, valued at $8,910,268.31. The disclosure for this sale can be found here. Over the last three months, insiders bought 459,000 shares of company stock worth $36,690 and sold 712,128 shares worth $5,530,108. 3.18% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new position in M&T Bank during the 2nd quarter worth approximately $140,000. Boston Private Wealth LLC increased its holdings in M&T Bank by 2.6% during the 2nd quarter. Boston Private Wealth LLC now owns 2,681 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 67 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in M&T Bank by 0.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,172 shares of the financial services provider’s stock worth $77,116,000 after purchasing an additional 2,097 shares in the last quarter. QCI Asset Management Inc. NY increased its holdings in M&T Bank by 0.3% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 3 shares in the last quarter. Finally, Tredje AP fonden increased its holdings in M&T Bank by 29.9% during the 2nd quarter. Tredje AP fonden now owns 17,918 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 4,129 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors.
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About M&T Bank
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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