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

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

MTB has been the topic of a number of other reports. Barclays lifted their target price on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Wells Fargo & Company boosted their price objective on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. UBS Group boosted their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Bank of America upped their target price on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Piper Sandler reduced 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. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Price Performance

M&T Bank stock traded down $1.06 during mid-day trading on Thursday, hitting $146.90. 919,269 shares of the company were exchanged, compared to its average volume of 1,195,423. 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 business’s 50 day simple moving average is $140.84 and its two-hundred day simple moving average is $133.63. The company has a market capitalization of $24.48 billion, a P/E ratio of 9.93, a PEG ratio of 1.23 and a beta of 0.80. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.25.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the business posted $4.09 EPS. Analysts forecast that M&T Bank will post 13.92 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were 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 of the company’s stock, valued at approximately $962,350.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 37,119 shares of company stock valued at $5,341,012 in the last three months. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

A number of large investors have recently bought and sold shares of MTB. Norges Bank bought a new stake in M&T Bank in the fourth quarter worth $232,322,000. Invesco Ltd. boosted its holdings in M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock valued at $612,138,000 after acquiring an additional 650,796 shares during the period. Smead Capital Management Inc. bought a new stake in M&T Bank during the fourth quarter valued at about $59,418,000. LSV Asset Management boosted its holdings in M&T Bank by 63.5% during the third quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock valued at $140,176,000 after acquiring an additional 430,356 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in M&T Bank by 29.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock valued at $218,308,000 after acquiring an additional 393,116 shares during the period. 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.