M&T Bank (NYSE:MTB) Raised to Hold at StockNews.com

StockNews.com upgraded shares of M&T Bank (NYSE:MTB) from a sell rating to a hold rating in a research report released on Thursday morning.

Several other brokerages also recently commented on MTB. JPMorgan Chase & Co. boosted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $162.00 to $170.00 and gave the stock a market perform rating in a report on Tuesday, April 16th. Royal Bank of Canada reissued an outperform rating and issued a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Barclays boosted their target price on M&T Bank from $150.00 to $170.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Finally, Piper Sandler reduced their target price on M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a report on Friday, January 19th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $158.48.

M&T Bank Stock Down 0.4 %

NYSE MTB opened at $146.38 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $141.00 and its two-hundred day moving average is $133.82. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.22 and a beta of 0.80. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.93.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the firm posted $4.09 earnings per share. Equities analysts forecast that M&T Bank will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is presently 35.16%.

Insider Buying and Selling

In other news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $718,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock valued at $5,341,012. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in M&T Bank in the 4th quarter valued at about $25,000. General Partner Inc. bought a new position in M&T Bank in the 1st quarter valued at about $27,000. Headinvest LLC bought a new position in M&T Bank in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC bought a new position in M&T Bank in the 4th quarter valued at about $32,000. Finally, Creative Financial Designs Inc. ADV bought a new position in M&T Bank in the 4th quarter valued at about $33,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Company Profile

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.