M&T Bank Co. (NYSE:MTB) has earned an average rating of “Hold” from the twenty-one ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $176.46.
Several equities analysts have issued reports on MTB shares. Jefferies Group reiterated a “buy” rating and issued a $201.00 price objective on shares of M&T Bank in a research report on Monday, January 8th. Barclays lifted their price objective on M&T Bank from $175.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Wells Fargo & Co set a $180.00 price objective on M&T Bank and gave the company a “hold” rating in a research report on Wednesday, December 20th. UBS Group upgraded M&T Bank from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $150.00 to $173.00 in a research report on Tuesday, December 12th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of M&T Bank in a research report on Friday, January 19th.
Shares of M&T Bank (MTB) traded up $0.02 during mid-day trading on Friday, reaching $190.33. The company had a trading volume of 364,922 shares, compared to its average volume of 669,975. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.54. M&T Bank has a twelve month low of $141.12 and a twelve month high of $197.37. The firm has a market cap of $28,610.00, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.
M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.26. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. research analysts anticipate that M&T Bank will post 12.2 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 5th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, March 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.58%. M&T Bank’s payout ratio is currently 32.33%.
M&T Bank announced that its board has authorized a share repurchase program on Monday, February 5th that permits the company to buyback $745.00 million in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $194.85, for a total value of $194,850.00. Following the completion of the sale, the director now owns 52,197 shares in the company, valued at $10,170,585.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denis J. Salamone sold 31,511 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $188.00, for a total value of $5,924,068.00. Following the completion of the sale, the director now owns 125,133 shares of the company’s stock, valued at approximately $23,525,004. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,137 shares of company stock valued at $13,772,988. 0.48% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors bought a new stake in M&T Bank in the fourth quarter valued at about $171,000. Calton & Associates Inc. bought a new stake in M&T Bank in the fourth quarter valued at about $178,000. NuWave Investment Management LLC bought a new stake in M&T Bank in the fourth quarter valued at about $197,000. Savant Capital LLC bought a new stake in M&T Bank in the fourth quarter valued at about $202,000. Finally, Shelton Capital Management bought a new stake in M&T Bank in the fourth quarter valued at about $202,000. Institutional investors and hedge funds own 77.73% of the company’s stock.
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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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