M&T Bank (NYSE:MTB) Rating Reiterated by DA Davidson

M&T Bank (NYSE:MTB)‘s stock had its “neutral” rating restated by DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $159.00 target price on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 14.36% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price target on the stock. in a research report on Monday, December 18th. Morgan Stanley boosted their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $157.98.

M&T Bank Stock Performance

Shares of MTB stock opened at $139.04 on Tuesday. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.23. The business’s fifty day simple moving average is $139.61 and its 200-day simple moving average is $132.77. 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 company has a market cap of $23.17 billion, a PE ratio of 9.40, a PEG ratio of 1.30 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 analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter in the previous year, the firm posted $4.09 EPS. Analysts expect that M&T Bank will post 13.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of M&T Bank 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 transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock valued at $5,114,624 in the last three months. 0.82% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently made changes to their positions in MTB. Virtu Financial LLC raised its position in M&T Bank by 17,405.3% in the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after purchasing an additional 5,243,349 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in M&T Bank by 113.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock worth $42,949,000 after acquiring an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC grew its holdings in M&T Bank by 217.0% during the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock worth $66,759,000 after acquiring an additional 2,286,251 shares in the last quarter. Norges Bank acquired a new position in M&T Bank during the 4th quarter worth approximately $232,322,000. Finally, Goldman Sachs Group Inc. increased its position in shares of M&T Bank by 76.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after purchasing an additional 1,538,436 shares during the last quarter. Institutional investors and hedge funds own 84.68% 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 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.