Wall Street Zen Downgrades M&T Bank (NYSE:MTB) to Sell

M&T Bank (NYSE:MTB) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

MTB has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on M&T Bank from $217.00 to $244.50 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Barclays boosted their price target on shares of M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Piper Sandler upped their price objective on shares of M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Finally, Royal Bank Of Canada raised their price objective on shares of M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $232.87.

M&T Bank Stock Up 1.0%

MTB stock opened at $198.14 on Friday. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.87 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank has a 12 month low of $150.75 and a 12 month high of $239.00. The firm has a 50-day moving average of $217.76 and a two-hundred day moving average of $202.49.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same period last year, the company posted $3.77 EPS. As a group, analysts forecast that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the transaction, the insider directly owned 16,446 shares in the company, valued at $3,548,882.34. This represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael A. Wisler sold 8,237 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $223.48, for a total value of $1,840,804.76. Following the transaction, the executive vice president owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. This represents a 63.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 49,092 shares of company stock worth $11,182,250. Company insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its stake in M&T Bank by 11.9% during the 1st quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock worth $607,000 after buying an additional 362 shares during the period. Woodline Partners LP lifted its holdings in M&T Bank by 40.7% during the 1st quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock worth $2,506,000 after buying an additional 4,054 shares in the last quarter. DNB Asset Management AS boosted its position in M&T Bank by 1.0% in the 2nd quarter. DNB Asset Management AS now owns 111,342 shares of the financial services provider’s stock valued at $21,599,000 after buying an additional 1,066 shares during the period. Mufg Securities Americas Inc. boosted its position in M&T Bank by 17.5% in the 2nd quarter. Mufg Securities Americas Inc. now owns 3,849 shares of the financial services provider’s stock valued at $747,000 after buying an additional 573 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of M&T Bank in the second quarter worth $36,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.