M&T Bank (NYSE:MTB) Given Neutral Rating at DA Davidson

M&T Bank (NYSE:MTB)‘s stock had its “neutral” rating restated by stock analysts at DA Davidson in a research report issued on Tuesday, Benzinga reports. They currently have a $159.00 price objective on the financial services provider’s stock. DA Davidson’s price objective suggests a potential upside of 14.36% from the stock’s previous close.

Several other equities analysts also recently commented on MTB. Jefferies Financial Group decreased their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price on the stock. in a research report on Monday, December 18th. Finally, Morgan Stanley lifted their price target on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $157.98.

M&T Bank Trading Up 1.2 %

M&T Bank stock opened at $139.04 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The stock has a 50-day simple moving average of $139.61 and a 200 day simple moving average of $132.77. The stock has a market capitalization of $23.17 billion, a P/E ratio of 9.40, a PEG ratio of 1.30 and a beta of 0.80. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share. Analysts expect that M&T Bank will post 13.89 earnings per share for the current year.

Insider Activity at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the transaction, the executive vice president now owns 5,000 shares in the company, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock valued at $5,114,624 over the last quarter. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC raised its holdings in M&T Bank by 7.8% in the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock valued at $134,000 after buying an additional 67 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in shares of M&T Bank by 2.6% during the third quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 80 shares during the period. Burns J W & Co. Inc. NY lifted its holdings in shares of M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 80 shares during the period. First Horizon Advisors Inc. grew its stake in shares of M&T Bank by 3.2% in the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 80 shares during the last quarter. Finally, Fulton Bank N.A. increased its holdings in M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 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 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.