M&T Bank (NYSE:MTB) Rating Lowered to Sell at StockNews.com

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

MTB has been the topic of several other reports. Wedbush boosted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an outperform rating in a report on Tuesday, September 24th. Piper Sandler boosted their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an overweight rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a market perform rating in a report on Friday, July 19th. Evercore ISI upgraded shares of M&T Bank from an in-line rating to an outperform rating and lifted their target price for the company from $187.00 to $210.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. upgraded M&T Bank from a neutral rating to an overweight rating and upped their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has an average rating of Hold and a consensus price target of $185.75.

M&T Bank Stock Performance

M&T Bank stock opened at $178.74 on Thursday. The firm has a 50 day simple moving average of $168.84 and a 200-day simple moving average of $155.83. The stock has a market cap of $29.82 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 1-year low of $108.53 and a 1-year high of $180.63.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the business posted $5.12 earnings per share. On average, analysts expect that M&T Bank will post 14.23 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.02%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insiders Place Their Bets

In other news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their position. 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, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently bought and sold shares of MTB. Steward Partners Investment Advisory LLC increased its position in shares of M&T Bank by 9.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,896 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 346 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $541,000. NEOS Investment Management LLC purchased a new position in shares of M&T Bank during the fourth quarter worth approximately $292,000. Tower Research Capital LLC TRC increased its holdings in shares of M&T Bank by 240.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 28,518 shares of the financial services provider’s stock valued at $3,909,000 after acquiring an additional 20,138 shares during the period. Finally, 1832 Asset Management L.P. raised its position in M&T Bank by 31.2% in the 4th quarter. 1832 Asset Management L.P. now owns 81,612 shares of the financial services provider’s stock valued at $11,187,000 after purchasing an additional 19,400 shares during the last quarter. 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.