M&T Bank (NYSE:MTB) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of M&T Bank (NYSE:MTB) from a hold rating to a sell rating in a report released on Friday morning.

Several other equities analysts have also commented on the stock. Royal Bank Of Canada upped their price target on shares of M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Evercore ISI cut shares of M&T Bank from an “outperform” rating to a “hold” rating and boosted their price objective for the company from $210.00 to $225.00 in a research note on Tuesday, January 6th. Cantor Fitzgerald increased their target price on M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Finally, Piper Sandler upped their price target on M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average price target of $224.29.

M&T Bank Stock Performance

NYSE MTB opened at $213.69 on Friday. The business’s 50-day moving average price is $202.04 and its 200 day moving average price is $195.58. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. M&T Bank has a twelve month low of $150.75 and a twelve month high of $222.18. The company has a market capitalization of $32.84 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.94 and a beta of 0.59.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter in the prior year, the company posted $3.77 EPS. On average, research analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio is presently 35.19%.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 17,866 shares of M&T Bank stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total transaction of $3,944,991.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the transaction, the executive vice president directly owned 5,501 shares of the company’s stock, valued at $1,054,541.70. This represents a 48.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 29,116 shares of company stock valued at $6,091,776. 0.53% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

A number of hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC raised its holdings in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 155 shares in the last quarter. Bank of Jackson Hole Trust increased its position in shares of M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the last quarter. Triumph Capital Management acquired a new stake in shares of M&T Bank in the 3rd quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of M&T Bank during the second quarter worth about $36,000. Finally, Ameriflex Group Inc. lifted its position in shares of M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.