Shares of M&T Bank Co. (NYSE:MTB) have received an average rating of “Hold” from the twenty research firms that are presently covering the firm. Two equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $152.77.
MTB has been the topic of several research reports. Zacks Investment Research lowered M&T Bank Co. from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Wedbush boosted their price target on M&T Bank Co. from $144.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada restated a “buy” rating and set a $168.00 price target on shares of M&T Bank Co. in a research note on Wednesday, January 4th. Keefe, Bruyette & Woods restated a “hold” rating and set a $160.00 price target on shares of M&T Bank Co. in a research note on Tuesday. Finally, Barclays PLC restated an “overweight” rating and set a $175.00 price target (up from $172.00) on shares of M&T Bank Co. in a research note on Wednesday.
WARNING: This article was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.chaffeybreeze.com/2017/04/20/analysts-set-mt-bank-co-mtb-target-price-at-146-82-updated-updated.html.
M&T Bank Co. (NYSE:MTB) traded up 2.07% during trading on Tuesday, reaching $154.62. The company’s stock had a trading volume of 432,750 shares. The company’s 50-day moving average is $158.40 and its 200-day moving average is $148.79. The company has a market capitalization of $23.84 billion, a P/E ratio of 19.88 and a beta of 0.77. M&T Bank Co. has a 1-year low of $108.04 and a 1-year high of $173.72.
M&T Bank Co. (NYSE:MTB) last posted its quarterly earnings data on Monday, April 17th. The bank reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.18. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. M&T Bank Co. had a return on equity of 8.98% and a net margin of 22.98%. During the same period in the previous year, the company posted $1.87 earnings per share. Equities analysts anticipate that M&T Bank Co. will post $8.74 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 6th were paid a $0.75 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from M&T Bank Co.’s previous quarterly dividend of $0.70. M&T Bank Co.’s dividend payout ratio is 35.94%.
In other news, VP John L. Dangelo sold 1,000 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $168.56, for a total value of $168,560.00. Following the transaction, the vice president now owns 1,829 shares of the company’s stock, valued at approximately $308,296.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gino A. Martocci sold 3,079 shares of the stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $164.98, for a total value of $507,973.42. Following the completion of the transaction, the insider now directly owns 12,747 shares in the company, valued at approximately $2,103,000.06. The disclosure for this sale can be found here. In the last three months, insiders sold 8,034 shares of company stock worth $1,318,119. 3.63% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in MTB. State Street Corp boosted its stake in M&T Bank Co. by 8.6% in the fourth quarter. State Street Corp now owns 8,198,689 shares of the bank’s stock valued at $1,282,529,000 after buying an additional 648,171 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in M&T Bank Co. by 0.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,987,468 shares of the bank’s stock valued at $462,945,000 after buying an additional 28,121 shares during the last quarter. BlackRock Fund Advisors boosted its stake in M&T Bank Co. by 3.5% in the third quarter. BlackRock Fund Advisors now owns 2,602,947 shares of the bank’s stock valued at $302,202,000 after buying an additional 88,826 shares during the last quarter. BlackRock Group LTD boosted its stake in M&T Bank Co. by 2.6% in the third quarter. BlackRock Group LTD now owns 1,634,918 shares of the bank’s stock valued at $189,814,000 after buying an additional 41,249 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in M&T Bank Co. by 1.0% in the third quarter. Principal Financial Group Inc. now owns 1,582,543 shares of the bank’s stock valued at $183,733,000 after buying an additional 16,210 shares during the last quarter. Institutional investors and hedge funds own 76.26% of the company’s stock.
About M&T Bank Co.
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.
Receive News & Ratings for M&T Bank Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Co. and related companies with MarketBeat.com's FREE daily email newsletter.