On April 5, 2023, Morgan Stanley maintained coverage of M & T Bank with a Overweight recommendation.
Analyst Price Forecast Suggests 51.79% Upside
As of March 30, 2023, the average one-year price target for M & T Bank is $177.87. The forecasts range from a low of $151.50 to a high of $222.60. The average price target represents an increase of 51.79% from its latest reported closing price of $117.18.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for M & T Bank is $9,826MM, an increase of 28.25%. The projected annual non-GAAP EPS is $19.29.
M & T Bank Declares $1.30 Dividend
On February 22, 2023 the company declared a regular quarterly dividend of $1.30 per share ($5.20 annualized). Shareholders of record as of March 6, 2023 received the payment on March 31, 2023. Previously, the company paid $1.20 per share.
At the current share price of $117.18 / share, the stock's dividend yield is 4.44%. Looking back five years and taking a sample every week, the average dividend yield has been 2.93%, the lowest has been 1.63%, and the highest has been 4.99%. The standard deviation of yields is 0.70 (n=237).
The current dividend yield is 2.16 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
Balyasny Asset Management holds 560K shares representing 0.33% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
USCRX - Cornerstone Moderately Aggressive Fund holds 17K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 13K shares, representing an increase of 22.93%. The firm increased its portfolio allocation in MTB by 19.23% over the last quarter.
Bnp Paribas Arbitrage holds 77K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 140K shares, representing a decrease of 80.66%. The firm decreased its portfolio allocation in MTB by 93.90% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 3K shares, representing a decrease of 328.71%. The firm decreased its portfolio allocation in MTB by 89.32% over the last quarter.
Profunds - Profund Vp Financials holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 1K shares, representing a decrease of 6.15%. The firm decreased its portfolio allocation in MTB by 26.90% over the last quarter.
What is the Fund Sentiment?
There are 1689 funds or institutions reporting positions in M & T Bank. This is a decrease of 27 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to MTB is 0.32%, a decrease of 11.10%. Total shares owned by institutions decreased in the last three months by 2.18% to 167,313K shares. The put/call ratio of MTB is 1.15, indicating a bearish outlook.
M & T Bank Background Information
(This description is provided by the company.)
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
