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

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

A number of other brokerages have also weighed in on MTB. DA Davidson reiterated a neutral rating and issued a $159.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Bank of America lifted their price objective on M&T Bank from $157.00 to $160.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Evercore ISI lifted their price objective on M&T Bank from $146.00 to $157.00 and gave the stock an in-line rating in a research report on Thursday, March 28th. Jefferies Financial Group lowered their target price on M&T Bank from $154.00 to $151.00 and set a hold rating for the company in a research note on Monday, April 8th. Finally, UBS Group raised their target price on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $158.48.

M&T Bank Price Performance

MTB opened at $146.38 on Thursday. The stock’s 50 day simple moving average is $141.00 and its 200 day simple moving average is $133.88. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a 1 year low of $108.53 and a 1 year high of $148.93. The firm has a market cap of $24.39 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued 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). The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the prior year, the business posted $4.09 earnings per share. As a group, analysts predict that M&T Bank will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction 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 completion of the transaction, the director now owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank 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 completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is owned by insiders.

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prestige Wealth Management Group LLC increased its holdings in shares of M&T Bank by 80.6% in the 1st quarter. Prestige Wealth Management Group LLC now owns 3,372 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 1,505 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of M&T Bank in the first quarter worth $95,000. Checchi Capital Advisers LLC bought a new stake in shares of M&T Bank in the first quarter worth $202,000. Tritonpoint Wealth LLC grew its holdings in shares of M&T Bank by 2.3% in the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 87 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of M&T Bank by 0.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,905 shares of the financial services provider’s stock worth $4,204,000 after acquiring an additional 233 shares during the period. 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.