M&T Bank (NYSE:MTB) Cut 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 report released on Saturday.

A number of other brokerages have also recently weighed in on MTB. Keefe, Bruyette & Woods increased their price target on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Cantor Fitzgerald increased their target price on M&T Bank from $238.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. raised their target price on M&T Bank from $217.00 to $244.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Evercore downgraded shares of M&T Bank from an “outperform” rating to a “hold” rating and boosted their price target for the company from $210.00 to $225.00 in a report on Tuesday, January 6th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $232.87.

M&T Bank Price Performance

Shares of NYSE MTB opened at $198.14 on Friday. The company has a market capitalization of $29.52 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58. The business has a 50 day simple moving average of $217.76 and a 200-day simple moving average of $202.44. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank has a twelve month low of $150.75 and a twelve month high of $239.00.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company earned $3.77 earnings per share. As a group, equities research analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the sale, the director directly owned 5,976 shares of the company’s stock, valued at approximately $1,358,763.12. This represents a 13.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Barnes sold 21,193 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the sale, the director owned 15,142 shares of the company’s stock, valued at $3,571,240.70. The trade was a 58.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 49,092 shares of company stock worth $11,182,250. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. Commonwealth Retirement Investments LLC lifted its holdings in shares of M&T Bank by 0.4% in the fourth quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock valued at $2,214,000 after purchasing an additional 44 shares in the last quarter. Ransom Advisory Ltd raised its position in M&T Bank by 2.0% during the fourth quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock valued at $506,000 after buying an additional 50 shares during the period. Wedbush Securities Inc. lifted its stake in M&T Bank by 2.4% in the 4th quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock worth $448,000 after acquiring an additional 52 shares in the last quarter. Bank of Jackson Hole Trust boosted its position in M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in shares of M&T Bank by 0.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock valued at $3,975,000 after purchasing an additional 67 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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.