M&T Bank’s (MTB) Neutral Rating Reiterated at DA Davidson

M&T Bank (NYSE:MTB)‘s stock had its “neutral” rating reiterated by investment analysts at DA Davidson in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $159.00 target price on the financial services provider’s stock. DA Davidson’s price objective suggests a potential upside of 15.81% from the company’s previous close.

MTB has been the subject of a number of other reports. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Morgan Stanley upped their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Wells Fargo & Company raised their price target on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $157.98.

M&T Bank Price Performance

Shares of MTB stock traded down $3.65 during trading hours on Tuesday, hitting $137.29. The stock had a trading volume of 287,436 shares, compared to its average volume of 1,203,849. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 1.24 and a beta of 0.80. M&T Bank has a one year low of $108.53 and a one year high of $148.23. The stock’s 50-day moving average price is $139.33 and its two-hundred day moving average price is $132.65.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period last year, the company earned $4.09 earnings per share. Equities analysts forecast that M&T Bank will post 13.89 EPS for the current year.

Insider Activity

In other news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at approximately $718,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,481 shares of company stock worth $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC acquired a new position in shares of M&T Bank in the 4th quarter valued at $25,000. Clear Street Markets LLC purchased a new stake in M&T Bank during the 4th quarter valued at about $25,000. RVW Wealth LLC acquired a new position in shares of M&T Bank in the third quarter valued at about $27,000. General Partner Inc. acquired a new position in shares of M&T Bank in the first quarter valued at about $27,000. Finally, Quarry LP purchased a new position in shares of M&T Bank in the first quarter worth about $27,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.