M&T Bank (NYSE:MTB) Now Covered by Analysts at Wolfe Research

Equities research analysts at Wolfe Research assumed coverage on shares of M&T Bank (NYSE:MTB) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set an “underperform” rating and a $198.00 price target on the financial services provider’s stock. Wolfe Research‘s price target would indicate a potential downside of 10.81% from the stock’s current price.

MTB has been the topic of a number of other research reports. DA Davidson cut their target price on shares of M&T Bank from $262.00 to $258.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Evercore set a $230.00 price objective on shares of M&T Bank in a research note on Thursday, October 1st. Morgan Stanley dropped their price target on shares of M&T Bank from $301.00 to $294.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Finally, Raymond James Financial began coverage on M&T Bank in a research report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $244.89.

M&T Bank Stock Up 0.1%

Shares of NYSE MTB opened at $221.99 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.89. M&T Bank has a one year low of $179.32 and a one year high of $255.95. The firm’s 50 day simple moving average is $228.90 and its two-hundred day simple moving average is $224.77. The stock has a market capitalization of $32.06 billion, a P/E ratio of 11.59, a PEG ratio of 1.28 and a beta of 0.61.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.93 by $0.15. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the company earned $4.82 EPS. As a group, analysts expect that M&T Bank will post 19.48 EPS for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% 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, CEO René Jones sold 19,396 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the completion of the sale, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at $24,851,949.85. The trade was a 15.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,028 shares of company stock worth $4,794,884 in the last ninety days. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several hedge funds have recently modified their holdings of MTB. Wedmont Private Capital boosted its position in shares of M&T Bank by 1.0% in the second quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 45 shares during the period. CX Institutional boosted its stake in M&T Bank by 3.4% during the second quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock valued at $393,000 after buying an additional 54 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in shares of M&T Bank by 5.4% in the second quarter. Cidel Asset Management Inc. now owns 1,196 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 61 shares in the last quarter. Hudock Inc. grew its stake in shares of M&T Bank by 0.4% in the 3rd quarter. Hudock Inc. now owns 13,891 shares of the financial services provider’s stock worth $3,023,000 after buying an additional 62 shares in the last quarter. Finally, Taylor Securities Services Inc. increased its stake in M&T Bank by 1.7% during the third quarter. Taylor Securities Services Inc. now owns 4,200 shares of the financial services provider’s stock worth $914,000 after acquiring an additional 70 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company’s offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.