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 research report released on Friday.

A number of other research analysts also recently weighed in on MTB. The Goldman Sachs Group raised their target price on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley increased their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and increased their price target for the company from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their price target on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Wedbush increased their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $196.18.

M&T Bank Stock Down 0.7 %

Shares of MTB stock opened at $197.55 on Friday. The firm has a fifty day moving average of $172.93 and a 200-day moving average of $158.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank has a 12-month low of $108.53 and a 12-month high of $200.94. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 3.27 and a beta of 0.75.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the firm earned $5.12 earnings per share. As a group, equities research analysts predict that M&T Bank will post 14.16 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares in the company, valued at $502,184.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock worth $5,115,349 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Large investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 shares during the period. Dimensional Fund Advisors LP raised its position in M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in M&T Bank by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after purchasing an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after purchasing an additional 43,795 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares in 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.