M&T Bank Co. (NYSE:MTB) Given Average Recommendation of “Hold” by Brokerages

M&T Bank Co. (NYSE:MTB) has been assigned an average rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $158.76.

MTB has been the subject of several recent research reports. Morgan Stanley reduced their price target on M&T Bank from $180.00 to $175.00 and set an “equal weight” rating for the company in a research report on Monday, August 2nd. Keefe, Bruyette & Woods upgraded M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 7th. Citigroup started coverage on M&T Bank in a research note on Friday, July 16th. They set a “hold” rating and a $141.19 target price on the stock. Wells Fargo & Company dropped their target price on M&T Bank from $168.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 22nd. Finally, Odeon Capital Group upgraded M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 price target on the stock in a research note on Monday, July 19th.

Several institutional investors have recently made changes to their positions in the business. Cigna Investments Inc. New increased its holdings in shares of M&T Bank by 1.7% in the first quarter. Cigna Investments Inc. New now owns 4,610 shares of the financial services provider’s stock valued at $700,000 after purchasing an additional 75 shares during the last quarter. Barrett Asset Management LLC increased its holdings in shares of M&T Bank by 31.3% in the first quarter. Barrett Asset Management LLC now owns 315 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 75 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of M&T Bank by 0.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,738 shares of the financial services provider’s stock valued at $1,560,000 after purchasing an additional 79 shares during the last quarter. Assetmark Inc. increased its holdings in shares of M&T Bank by 12.7% in the second quarter. Assetmark Inc. now owns 832 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 94 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its holdings in shares of M&T Bank by 1.5% in the first quarter. Vestmark Advisory Solutions Inc. now owns 6,383 shares of the financial services provider’s stock valued at $968,000 after purchasing an additional 97 shares during the last quarter. 85.09% of the stock is owned by institutional investors and hedge funds.

Shares of MTB traded up $0.55 during trading hours on Friday, hitting $138.06. The company had a trading volume of 3,488 shares, compared to its average volume of 902,301. The company has a market capitalization of $17.77 billion, a PE ratio of 10.57 and a beta of 1.20. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. M&T Bank has a one year low of $88.48 and a one year high of $168.27. The company’s fifty day moving average price is $137.28 and its two-hundred day moving average price is $148.68.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $3.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.29). The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. M&T Bank had a return on equity of 11.70% and a net margin of 28.58%. During the same period in the previous year, the firm posted $1.76 earnings per share. Analysts forecast that M&T Bank will post 13.5 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 1st will be issued a dividend of $1.10 per share. The ex-dividend date is Tuesday, August 31st. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.19%. M&T Bank’s payout ratio is currently 43.91%.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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

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