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

by · The Cerbat Gem

M&T Bank (NYSE:MTB – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

MTB has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Wells Fargo & Company lifted their target price on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research note on Friday. DA Davidson raised their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Jefferies Financial Group raised their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $187.00 to $210.00 in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $196.18.

Get Our Latest Analysis on MTB

M&T Bank Trading Down 0.7 %

Shares of MTB stock traded down $1.32 during trading hours on Friday, hitting $197.55. 1,631,398 shares of the company’s stock traded hands, compared to its average volume of 1,039,531. The stock’s 50 day simple moving average is $172.93 and its 200 day simple moving average is $158.65. The stock has a market cap of $32.96 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. M&T Bank has a 12 month low of $108.53 and a 12 month high of $200.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB – Get Free Report) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $5.12 earnings per share. On average, sell-side analysts anticipate that M&T Bank will post 14.16 EPS for the current year.

Insider Activity at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its position in shares of M&T Bank by 232.1% in the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares during the period. Los Angeles Capital Management LLC raised its position in shares of M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the period. Vest Financial LLC bought a new stake in shares of M&T Bank in the first quarter valued at approximately $18,147,000. Dimensional Fund Advisors LP raised its position in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares during the period. Finally, National Bank of Canada FI raised its position in shares of M&T Bank by 195.1% in the first quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock valued at $19,480,000 after purchasing an additional 83,814 shares during the period. Institutional investors own 84.68% of the company’s stock.

About M&T Bank

(Get Free Report)

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.

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