M&T Bank (NYSE:MTB) Rating Lowered to Sell at Wall Street Zen

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

Other equities research analysts have also recently issued research reports about the stock. TD Cowen reaffirmed a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. Evercore downgraded shares of M&T Bank from an “outperform” rating to a “hold” rating and raised their price target for the stock from $210.00 to $225.00 in a research note on Tuesday, January 6th. Jefferies Financial Group upped their price objective on shares of M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Piper Sandler increased their price objective on shares of M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Finally, UBS Group boosted their target price on M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. One investment 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $228.50.

M&T Bank Trading Up 1.5%

MTB stock opened at $232.65 on Friday. M&T Bank has a 12-month low of $150.75 and a 12-month high of $239.00. The business’s 50-day moving average is $216.54 and its 200 day moving average is $200.22. The company has a current ratio of 0.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a market cap of $34.66 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.00 and a beta of 0.60.

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, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the business posted $3.77 earnings per share. On average, sell-side analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total value of $206,679.33. Following the transaction, the director owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This represents a 13.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Barnes sold 21,193 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $235.85, for a total value of $4,998,369.05. Following the transaction, the director owned 15,142 shares of the company’s stock, valued at approximately $3,571,240.70. This represents a 58.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,105 shares of company stock valued at $11,488,231 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of Jackson Hole Trust increased its position in shares of M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the last quarter. Triumph Capital Management acquired a new stake in M&T Bank in the 3rd quarter valued at approximately $32,000. Golden State Wealth Management LLC raised its position in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the period. Elyxium Wealth LLC acquired a new position in M&T Bank during the fourth quarter worth $33,000. Finally, Ameriflex Group Inc. boosted its position in shares of M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 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 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.