M&T Bank Co. (NYSE:MTB) Receives $193.88 Average Price Target from Brokerages

Shares of M&T Bank Co. (NYSE:MTBGet Rating) have been assigned an average rating of “Hold” from the sixteen ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $193.88.

Several equities research analysts have commented on the company. The Goldman Sachs Group upped their price target on M&T Bank from $183.00 to $210.00 and gave the stock a “neutral” rating in a research note on Monday, April 4th. JPMorgan Chase & Co. assumed coverage on M&T Bank in a research note on Thursday, April 14th. They set a “neutral” rating for the company. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a research note on Monday. Wedbush increased their target price on M&T Bank from $187.00 to $212.00 in a research note on Thursday, April 21st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on M&T Bank from $180.00 to $200.00 in a research note on Friday, March 25th.

In other news, Vice Chairman Kevin J. Pearson sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $169.71, for a total value of $848,550.00. Following the sale, the insider now owns 39,008 shares of the company’s stock, valued at approximately $6,620,047.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in MTB. Richwood Investment Advisors LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at $25,000. Riverview Trust Co purchased a new position in shares of M&T Bank during the first quarter valued at $27,000. CVA Family Office LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at $31,000. Edmond DE Rothschild Holding S.A. purchased a new position in M&T Bank in the third quarter valued at about $34,000. Finally, Bank of New Hampshire purchased a new position in M&T Bank in the first quarter valued at about $34,000. 87.61% of the stock is currently owned by institutional investors.

NYSE MTB traded up $2.65 during trading hours on Friday, hitting $171.71. 9,252 shares of the company’s stock were exchanged, compared to its average volume of 1,620,803. The business’s 50 day moving average is $169.66 and its 200-day moving average is $167.59. M&T Bank has a 12-month low of $128.46 and a 12-month high of $186.95. The firm has a market capitalization of $30.81 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.05.

M&T Bank (NYSE:MTBGet Rating) last released its earnings results on Wednesday, April 20th. The financial services provider reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.24. M&T Bank had a return on equity of 11.45% and a net margin of 29.31%. During the same quarter in the prior year, the firm earned $3.41 EPS. As a group, equities research analysts anticipate that M&T Bank will post 13.06 EPS for the current fiscal year.

M&T Bank announced that its board has approved a share buyback program on Tuesday, February 22nd that permits the company to repurchase $800.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, May 31st. This represents a $4.80 dividend on an annualized basis and a yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is presently 36.67%.

About M&T Bank (Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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