M&T Bank (NYSE:MTB) Downgraded by StockNews.com

StockNews.com cut shares of M&T Bank (NYSE:MTB) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other equities analysts also recently issued reports on MTB. Royal Bank of Canada restated an outperform rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. DA Davidson reaffirmed a neutral rating and set a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Piper Sandler lowered their price objective on M&T Bank from $156.00 to $152.00 and set an overweight rating for the company in a research report on Friday, January 19th. UBS Group upped their target price on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Finally, Wells Fargo & Company boosted their price target on M&T Bank from $145.00 to $150.00 and gave the company an equal weight rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank currently has an average rating of Hold and a consensus target price of $158.48.

M&T Bank Stock Up 1.8 %

Shares of NYSE MTB opened at $149.24 on Friday. M&T Bank has a 1 year low of $108.53 and a 1 year high of $149.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm has a market cap of $24.87 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. The company has a 50 day simple moving average of $142.08 and a 200 day simple moving average of $134.91.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS 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 quarter last year, the firm posted $4.09 EPS. On average, research analysts forecast that M&T Bank will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is presently 35.16%.

Insider Activity at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,119 shares of company stock valued at $6,679,812. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its stake in shares of M&T Bank by 26.7% during the 1st quarter. Empowered Funds LLC now owns 2,204 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 465 shares during the period. AIA Group Ltd bought a new position in shares of M&T Bank during the 1st quarter valued at approximately $280,000. Envestnet Portfolio Solutions Inc. increased its stake in shares of M&T Bank by 13.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,471 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 535 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of M&T Bank by 3.8% in the 1st quarter. Empirical Finance LLC now owns 5,540 shares of the financial services provider’s stock worth $806,000 after purchasing an additional 204 shares during the period. Finally, Duality Advisers LP purchased a new position in M&T Bank in the first quarter valued at approximately $201,000. 84.68% of the stock is owned by hedge funds and other 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.