M&T Bank (NYSE:MTB) Upgraded at StockNews.com

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

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Morgan Stanley raised their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. DA Davidson reissued a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Evercore ISI increased their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Finally, Piper Sandler cut their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Stock Down 0.7 %

NYSE MTB traded down $1.06 during trading hours on Thursday, reaching $146.90. 919,269 shares of the company traded hands, compared to its average volume of 1,195,423. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.25. 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 stock has a market capitalization of $24.48 billion, a PE ratio of 9.93, a PEG ratio of 1.23 and a beta of 0.80. The company has a 50 day moving average of $140.84 and a two-hundred day moving average of $133.63.

M&T Bank (NYSE:MTB) last issued its 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 analyst estimates 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 period last year, the company posted $4.09 earnings per share. As a group, equities analysts expect that M&T Bank will post 13.92 earnings per share for the current year.

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders sold 37,119 shares of company stock valued at $5,341,012 in the last quarter. 0.82% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC lifted its stake in M&T Bank by 60.6% in the third quarter. AE Wealth Management LLC now owns 6,165 shares of the financial services provider’s stock valued at $780,000 after buying an additional 2,327 shares during the period. Avior Wealth Management LLC increased its holdings in shares of M&T Bank by 852.9% during the third quarter. Avior Wealth Management LLC now owns 324 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 290 shares in the last quarter. Caprock Group LLC increased its holdings in shares of M&T Bank by 4.0% during the third quarter. Caprock Group LLC now owns 6,063 shares of the financial services provider’s stock valued at $767,000 after acquiring an additional 233 shares in the last quarter. Czech National Bank increased its holdings in shares of M&T Bank by 47.7% during the third quarter. Czech National Bank now owns 28,995 shares of the financial services provider’s stock valued at $3,666,000 after acquiring an additional 9,359 shares in the last quarter. Finally, Connecticut Wealth Management LLC increased its holdings in shares of M&T Bank by 116.6% during the third quarter. Connecticut Wealth Management LLC now owns 7,400 shares of the financial services provider’s stock valued at $936,000 after acquiring an additional 3,983 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

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.