A number of other brokerages have also recently commented on MTB. Wedbush lifted their price objective on Wintrust Financial from $79.00 to $80.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Gilead Sciences in a research note on Tuesday, July 2nd. ValuEngine cut United Rentals from a sell rating to a strong sell rating in a research note on Thursday, July 18th. UBS Group lifted their price objective on Willis Towers Watson from $202.00 to $220.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Finally, Piper Jaffray Companies cut M&T Bank from an overweight rating to a neutral rating and decreased their price objective for the stock from $196.00 to $168.00 in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $176.77.
Shares of M&T Bank stock traded up $1.08 during trading on Friday, reaching $162.61. 782,988 shares of the company were exchanged, compared to its average volume of 781,847. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.53. M&T Bank has a twelve month low of $133.78 and a twelve month high of $180.77. The business’s 50-day simple moving average is $168.29. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06.
M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.36). M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm earned $3.26 earnings per share. On average, analysts expect that M&T Bank will post 14.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.46%. M&T Bank’s payout ratio is 31.10%.
In other M&T Bank news, insider Doris P. Meister sold 460 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $160.29, for a total value of $73,733.40. Following the completion of the transaction, the insider now directly owns 1,553 shares of the company’s stock, valued at $248,930.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert J. Bojdak sold 1,638 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $170.03, for a total value of $278,509.14. Following the completion of the transaction, the insider now directly owns 20,199 shares of the company’s stock, valued at $3,434,435.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,521 shares of company stock valued at $920,389. Insiders own 0.54% of the company’s stock.
A number of large investors have recently bought and sold shares of MTB. Dimensional Fund Advisors LP grew its stake in M&T Bank by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 746,514 shares of the financial services provider’s stock valued at $106,839,000 after acquiring an additional 9,307 shares during the period. Geode Capital Management LLC grew its stake in M&T Bank by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock valued at $287,704,000 after acquiring an additional 95,142 shares during the period. Nuveen Asset Management LLC grew its stake in M&T Bank by 2.1% in the fourth quarter. Nuveen Asset Management LLC now owns 3,656 shares of the financial services provider’s stock valued at $523,000 after acquiring an additional 76 shares during the period. Thrivent Financial for Lutherans grew its stake in M&T Bank by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 6,348 shares of the financial services provider’s stock valued at $909,000 after acquiring an additional 112 shares during the period. Finally, National Pension Service grew its stake in M&T Bank by 4.9% in the fourth quarter. National Pension Service now owns 158,860 shares of the financial services provider’s stock valued at $26,870,000 after acquiring an additional 7,405 shares during the period. 81.72% of the stock is owned by hedge funds and other institutional investors.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
Read More: Cash Flow
Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.