M&T Bank (NYSE:MTB) Raised to “Hold” at StockNews.com

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

A number of other equities analysts have also weighed in on MTB. Bank of America upped their price objective on M&T Bank from $157.00 to $160.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a market perform rating in a research note on Friday. Piper Sandler reaffirmed an overweight rating and issued a $164.00 price objective on shares of M&T Bank in a research note on Friday, June 21st. Royal Bank of Canada upped their price objective on M&T Bank from $160.00 to $174.00 and gave the stock an outperform rating in a research note on Friday. Finally, Wells Fargo & Company upped their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an equal weight rating in a research note on Tuesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of Hold and an average price target of $166.79.

M&T Bank Stock Performance

Shares of MTB opened at $165.25 on Friday. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $150.48 and a two-hundred day simple moving average of $143.82. The stock has a market cap of $27.57 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 3.86 and a beta of 0.77. M&T Bank has a 52 week low of $108.53 and a 52 week high of $175.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the company posted $5.12 earnings per share. On average, analysts expect that M&T Bank will post 13.95 EPS for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 3.27%. M&T Bank’s dividend payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the sale, the executive vice president now directly owns 8,579 shares in the company, valued at $1,319,278.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the sale, the director now directly owns 35,480 shares in the company, valued at $5,481,660. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christopher E. Kay sold 1,821 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the sale, the executive vice president now owns 8,579 shares in the company, valued at $1,319,278.62. The disclosure for this sale can be found here. Insiders have sold a total of 95,915 shares of company stock worth $14,497,759 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the fourth quarter worth approximately $25,000. General Partner Inc. purchased a new stake in shares of M&T Bank in the first quarter worth approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank in the first quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new stake in shares of M&T Bank in the second quarter worth approximately $35,000. Finally, BKM Wealth Management LLC purchased a new stake in shares of M&T Bank in the fourth quarter worth approximately $32,000. 84.68% of the stock is currently 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.