Wall Street Zen Downgrades M&T Bank (NYSE:MTB) to Sell

M&T Bank (NYSE:MTB) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research firms also recently commented on MTB. UBS Group boosted their target price on shares of M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada upped their price target on M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Keefe, Bruyette & Woods increased their target price on shares of M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Barclays raised their target price on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, TD Cowen reaffirmed a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $228.50.

M&T Bank Trading Up 1.5%

NYSE:MTB opened at $232.65 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $34.66 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. The stock’s 50-day moving average is $216.54 and its two-hundred day moving average is $200.41. M&T Bank has a fifty-two week low of $150.75 and a fifty-two week high of $239.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the business earned $3.77 EPS. As a group, equities research analysts forecast that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insider Activity

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the sale, the insider owned 16,446 shares in the company, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the transaction, the director directly owned 17,070 shares in the company, valued at $3,244,324.20. The trade was a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 52,105 shares of company stock worth $11,488,231. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently modified their holdings of the business. Canoe Financial LP raised its holdings in shares of M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after acquiring an additional 138,173 shares during the period. Plato Investment Management Ltd increased its position in shares of M&T Bank by 54.3% in the third quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock valued at $1,618,000 after acquiring an additional 2,905 shares during the last quarter. LSV Asset Management raised its stake in shares of M&T Bank by 19.9% during the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after purchasing an additional 56,750 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in M&T Bank by 19.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock worth $17,140,000 after acquiring an additional 13,889 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in M&T Bank by 120.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock worth $3,542,000 after purchasing an additional 9,788 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.