M&T Bank (MTB) Raised to “Hold” at ValuEngine

M&T Bank (NYSE:MTB) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other equities research analysts have also weighed in on MTB. Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research note on Friday, January 18th. Barclays reiterated a “buy” rating and set a $207.00 target price on shares of M&T Bank in a research note on Thursday, February 21st. Robert W. Baird lowered shares of M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 target price for the company. in a research note on Thursday, February 21st. Wedbush set a $165.00 target price on shares of M&T Bank and gave the company a “hold” rating in a research note on Friday, January 18th. Finally, UBS Group upgraded shares of M&T Bank from a “sell” rating to a “neutral” rating in a research note on Tuesday, January 8th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $180.27.

Shares of NYSE MTB opened at $173.33 on Friday. M&T Bank has a twelve month low of $133.78 and a twelve month high of $192.35. The company has a market capitalization of $23.59 billion, a P/E ratio of 13.48, a PEG ratio of 0.88 and a beta of 1.07. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 17th. The financial services provider reported $3.76 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.27. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same period in the previous year, the business earned $2.66 EPS. Sell-side analysts expect that M&T Bank will post 14.62 earnings per share for the current fiscal year.

In other news, insider Michael J. Todaro sold 667 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $167.70, for a total transaction of $111,855.90. Following the completion of the sale, the insider now owns 1,798 shares of the company’s stock, valued at approximately $301,524.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sabeth Siddique sold 365 shares of the business’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $165.67, for a total transaction of $60,469.55. Following the sale, the insider now directly owns 1,464 shares of the company’s stock, valued at approximately $242,540.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,766 shares of company stock valued at $2,111,968. Insiders own 0.54% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in shares of M&T Bank during the 4th quarter valued at $30,000. Doyle Wealth Management bought a new stake in shares of M&T Bank during the 4th quarter valued at $29,000. JOYN Advisors Inc. grew its position in shares of M&T Bank by 141.4% during the 4th quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 140 shares during the period. Lindbrook Capital LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $47,000. Finally, IFP Advisors Inc grew its position in shares of M&T Bank by 21.9% during the 4th quarter. IFP Advisors Inc now owns 351 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 63 shares during the period. 78.95% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

Further Reading: Cost of Debt

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for M&T Bank (NYSE:MTB)

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