M&T Bank (NYSE:MTB) Rating Increased 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 report published on Thursday.

A number of other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target 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. Barclays boosted their price target on M&T Bank from $150.00 to $170.00 and gave the stock an equal weight rating in a report on Tuesday, January 2nd. Wells Fargo & Company upped their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an equal weight rating in a report on Tuesday, April 16th. Royal Bank of Canada reissued an outperform rating and set a $160.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their target price on M&T Bank from $170.00 to $180.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $158.48.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $146.90 on Thursday. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.25. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $140.84 and a two-hundred day simple moving average of $133.63. The firm has a market capitalization of $24.48 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $4.09 earnings per share. On average, equities analysts forecast that M&T Bank will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is 35.16%.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Doris P. Meister sold 1,638 shares of the company’s 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 $464,662.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank during the 4th quarter worth $25,000. General Partner Inc. acquired a new position in shares of M&T Bank in the first quarter valued at about $27,000. BKM Wealth Management LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at about $32,000. Headinvest LLC acquired a new position in shares of M&T Bank in the third quarter valued at about $29,000. Finally, CVA Family Office LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at about $33,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.