M&T Bank (NYSE:MTB) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of M&T Bank (NYSE:MTB) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

MTB has been the subject of several other reports. TD Cowen reiterated a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. Evercore ISI cut M&T Bank from an “outperform” rating to a “hold” rating and increased their target price for the company from $210.00 to $225.00 in a research note on Tuesday, January 6th. Citigroup raised their price objective on M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, January 2nd. Barclays increased their price target on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, Truist Financial set a $230.00 price target on shares of M&T Bank in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $224.24.

M&T Bank Price Performance

M&T Bank stock opened at $213.69 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. M&T Bank has a 52-week low of $150.75 and a 52-week high of $222.18. The firm has a market cap of $32.84 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.59. The company’s 50 day moving average is $202.04 and its two-hundred day moving average is $195.65.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $3.77 EPS. On average, research analysts expect that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, December 1st. M&T Bank’s dividend payout ratio is currently 35.19%.

Insider Buying and Selling at M&T Bank

In related news, Director John P. Barnes sold 17,866 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total transaction of $3,944,991.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the transaction, the director owned 17,070 shares in the company, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,116 shares of company stock worth $6,091,776 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of M&T Bank

A number of large investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its position in shares of M&T Bank by 11.9% in the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock worth $607,000 after purchasing an additional 362 shares in the last quarter. Woodline Partners LP grew its position in M&T Bank by 40.7% in the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock valued at $2,506,000 after purchasing an additional 4,054 shares in the last quarter. Farther Finance Advisors LLC increased its stake in M&T Bank by 62.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,416 shares of the financial services provider’s stock valued at $857,000 after buying an additional 1,690 shares during the last quarter. CX Institutional lifted its position in M&T Bank by 16.5% during the 2nd quarter. CX Institutional now owns 1,580 shares of the financial services provider’s stock worth $307,000 after buying an additional 224 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its position in M&T Bank by 12.0% during the 2nd quarter. ST Germain D J Co. Inc. now owns 14,553 shares of the financial services provider’s stock worth $2,823,000 after buying an additional 1,560 shares in the last quarter. 84.68% of the stock is owned by 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.