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 report issued on Thursday morning.

MTB has been the topic of several other reports. Barclays raised their price objective 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. Piper Sandler reduced their price objective 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. Bank of America raised their price objective on M&T Bank from $157.00 to $160.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Wells Fargo & Company raised their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an equal weight rating in a report on Tuesday, April 16th. Finally, UBS Group raised their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank has a consensus rating of Hold and an average price target of $158.48.

M&T Bank Trading Down 0.4 %

Shares of NYSE MTB opened at $146.38 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The business’s 50 day moving average price is $141.00 and its 200-day moving average price is $133.88. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The company has a market cap 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 (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the previous year, the company posted $4.09 earnings per share. On average, sell-side analysts expect that M&T Bank will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

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

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on 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 approximately $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was 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 owns 5,000 shares of the company’s stock, valued at approximately $718,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on 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 directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders sold 37,119 shares of company stock valued at $5,341,012 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in M&T Bank during the 3rd quarter worth about $833,000. Tokio Marine Asset Management Co. Ltd. lifted its position in M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 305 shares during the period. NBC Securities Inc. acquired a new stake in M&T Bank during the 3rd quarter worth about $299,000. Stevens Capital Management LP acquired a new stake in M&T Bank during the 4th quarter worth about $320,000. Finally, Metis Global Partners LLC lifted its position in M&T Bank by 15.2% during the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 931 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.