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

M&T Bank (NYSE:MTB) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other brokerages have also recently weighed in on MTB. Royal Bank of Canada lifted their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Friday, October 4th. Piper Sandler raised their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Wedbush raised their price objective on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $196.18.

M&T Bank Stock Down 0.7 %

Shares of MTB stock opened at $197.55 on Friday. The stock has a 50 day moving average of $172.93 and a 200 day moving average of $158.78. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock has a market cap of $32.96 billion, a P/E ratio of 13.36, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank has a twelve month low of $108.53 and a twelve month high of $200.94.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period last year, the business earned $5.12 earnings per share. As a group, sell-side analysts expect that M&T Bank will post 14.16 EPS for the current year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now owns 15,045 shares in the company, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 over the last quarter. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MTB. Fisher Asset Management LLC grew its stake in M&T Bank by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock worth $2,177,000 after purchasing an additional 439 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of M&T Bank during the 4th quarter worth about $788,000. GAMMA Investing LLC boosted its position in shares of M&T Bank by 25.0% during the 1st quarter. GAMMA Investing LLC now owns 1,534 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 307 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 81 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of M&T Bank by 0.8% during the 1st quarter. Czech National Bank now owns 29,301 shares of the financial services provider’s stock worth $4,262,000 after acquiring an additional 235 shares in the last quarter. 84.68% of the stock is 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.