M&T Bank (NYSE:MTB) Lifted 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 issued to investors on Saturday.

Several other equities analysts also recently issued reports on MTB. Jefferies Financial Group cut their price objective on M&T Bank from $136.00 to $130.00 in a research report on Tuesday, October 10th. Royal Bank of Canada cut their price objective on M&T Bank from $175.00 to $160.00 and set an outperform rating for the company in a research report on Monday, September 11th. Bank of America lowered their target price on M&T Bank from $142.00 to $141.00 in a research note on Tuesday, October 10th. Wedbush lowered their target price on M&T Bank from $147.00 to $140.00 and set an outperform rating for the company in a research note on Thursday, October 19th. Finally, Morgan Stanley lifted their target price on M&T Bank from $155.00 to $157.00 and gave the company an overweight rating in a research note on Wednesday, September 27th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $148.62.

M&T Bank Price Performance

M&T Bank stock opened at $126.94 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $21.07 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 0.86 and a beta of 0.84. M&T Bank has a one year low of $108.53 and a one year high of $172.59. The business has a 50 day simple moving average of $121.64 and a 200 day simple moving average of $125.08.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $3.98 EPS for the quarter, topping the consensus estimate of $3.88 by $0.10. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.32 billion. M&T Bank had a return on equity of 13.13% and a net margin of 24.81%. During the same quarter last year, the company earned $3.83 EPS. On average, sell-side analysts forecast that M&T Bank will post 15.98 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a $1.30 dividend. The ex-dividend date is Thursday, November 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.10%. M&T Bank’s dividend payout ratio (DPR) is 30.01%.

Insider Activity

In other news, CFO Daryl N. Bible purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were bought at an average cost of $111.04 per share, for a total transaction of $555,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 32,876 shares in the company, valued at approximately $3,650,551.04. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Daryl N. Bible bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average price of $111.04 per share, for a total transaction of $555,200.00. Following the completion of the acquisition, the chief financial officer now owns 32,876 shares of the company’s stock, valued at approximately $3,650,551.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $110.58, for a total value of $110,580.00. Following the sale, the executive vice president now owns 6,055 shares in the company, valued at approximately $669,561.90. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clear Street Markets LLC bought a new stake in M&T Bank in the fourth quarter valued at approximately $25,000. Stonebridge Capital Advisors LLC raised its stake in M&T Bank by 1,980.0% in the second quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock valued at $26,000 after buying an additional 198 shares during the period. RVW Wealth LLC bought a new stake in M&T Bank in the third quarter valued at approximately $27,000. Quarry LP bought a new stake in M&T Bank in the first quarter valued at approximately $27,000. Finally, Sunbelt Securities Inc. bought a new stake in M&T Bank in the first quarter valued at approximately $27,000. Institutional investors own 82.86% 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 offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.