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

M&T Bank (NYSE:MTB) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Wells Fargo & Company lifted their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Morgan Stanley lifted their target price on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group decreased their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average target price of $158.48.

M&T Bank Stock Down 0.4 %

MTB stock opened at $146.38 on Thursday. M&T Bank has a twelve month low of $108.53 and a twelve month high of $148.93. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $24.39 billion, a P/E ratio of 9.90, a PEG ratio of 1.24 and a beta of 0.80. The business’s 50-day moving average price is $141.00 and its 200-day moving average price is $133.77.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. On average, equities research analysts forecast that M&T Bank will post 13.92 EPS for the current year.

Insider Activity

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 stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M&T Bank

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