M&T Bank (NYSE:MTB) Rating Increased to Hold at StockNews.com

M&T Bank (NYSE:MTB) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other brokerages have also recently commented on MTB. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. UBS Group lifted their price target on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Morgan Stanley lifted their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, Jefferies Financial Group cut their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $158.48.

M&T Bank Trading Down 0.4 %

Shares of MTB stock opened at $146.38 on Thursday. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.93. The company has a market capitalization of $24.39 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.24 and a beta of 0.80. The firm has a 50-day moving average price of $141.00 and a 200 day moving average price of $133.77. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data 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). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the business posted $4.09 EPS. Research analysts forecast that M&T Bank will post 13.92 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 37,119 shares of company stock worth $5,341,012 over the last ninety days. Insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of MTB. HHM Wealth Advisors LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at about $25,000. General Partner Inc. acquired a new position in shares of M&T Bank in the first quarter valued at about $27,000. Headinvest LLC bought a new stake in M&T Bank during the third quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in M&T Bank during the fourth quarter worth about $32,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in M&T Bank during the fourth quarter worth about $33,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.