M&T Bank (NYSE:MTB) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of M&T Bank (NYSE:MTB) from a sell rating to a hold rating in a research report released on Thursday morning.

MTB has been the topic of several other reports. Bank of America boosted their price target on M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Jefferies Financial Group reduced their target price on M&T Bank from $154.00 to $151.00 and set a hold rating on the stock in a report on Monday, April 8th. Piper Sandler dropped their price objective on shares of M&T Bank from $156.00 to $152.00 and set an overweight rating for the company in a research report on Friday, January 19th. UBS Group upped their target price on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, Evercore ISI upped their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the company an in-line rating in a research report on Thursday, March 28th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank presently has an average rating of Hold and a consensus price target of $158.48.

M&T Bank Price Performance

NYSE MTB opened at $146.90 on Thursday. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.25. The stock’s 50-day moving average is $140.84 and its two-hundred day moving average is $133.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm has a market cap of $24.48 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its 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 company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter last year, the business earned $4.09 earnings per share. On average, analysts anticipate that M&T Bank will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is presently 35.16%.

Insider Buying and Selling

In other news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock valued at $5,341,012. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of MTB. HHM Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $25,000. General Partner Inc. bought a new position in M&T Bank in the 1st quarter valued at about $27,000. Headinvest LLC bought a new position in M&T Bank in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC bought a new position in M&T Bank in the 4th quarter valued at about $32,000. Finally, Creative Financial Designs Inc. ADV bought a new position in M&T Bank in the 4th quarter valued at about $33,000. Institutional investors 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.