M&T Bank (NYSE:MTB) Upgraded to Hold by 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 Saturday morning.

MTB has been the subject of several other reports. Jefferies Financial Group cut their target price on shares of M&T Bank from $136.00 to $130.00 in a research report on Tuesday, October 10th. Royal Bank of Canada cut their target price on shares of M&T Bank from $175.00 to $160.00 and set an outperform rating for the company in a research report on Monday, September 11th. Odeon Capital Group lowered shares of M&T Bank from a buy rating to a hold rating and set a $133.65 target price for the company. in a research report on Friday, September 29th. Morgan Stanley boosted their price target on shares of M&T Bank from $155.00 to $157.00 and gave the stock an overweight rating in a research note on Wednesday, September 27th. Finally, Bank of America lowered their price target on shares of M&T Bank from $142.00 to $141.00 in a research note on Tuesday, October 10th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank presently has an average rating of Hold and an average target price of $148.62.

M&T Bank Stock Up 0.2 %

MTB opened at $126.94 on Friday. The company has a fifty day moving average price of $121.64 and a 200-day moving average price of $125.08. The firm has a market capitalization of $21.07 billion, a P/E ratio of 7.32, a price-to-earnings-growth ratio of 0.86 and a beta of 0.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.98 and a quick ratio of 0.98. M&T Bank has a one year low of $108.53 and a one year high of $172.59.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.10. M&T Bank had a net margin of 24.81% and a return on equity of 13.13%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business earned $3.83 EPS. Equities research analysts expect that M&T Bank will post 15.98 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Thursday, November 30th. M&T Bank’s payout ratio is currently 30.01%.

Insider Buying and Selling

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $110.58, for a total value of $110,580.00. Following the sale, the executive vice president now owns 6,055 shares in the company, valued at $669,561.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other M&T Bank news, CFO Daryl N. Bible acquired 5,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were acquired at an average price of $111.04 per share, for a total transaction of $555,200.00. Following the completion of the acquisition, the chief financial officer now owns 32,876 shares in the company, valued at $3,650,551.04. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $110.58, for a total transaction of $110,580.00. Following the completion of the sale, the executive vice president now owns 6,055 shares in the company, valued at approximately $669,561.90. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors have recently made changes to their positions in the company. KBC Group NV lifted its position in M&T Bank by 501.4% during the first quarter. KBC Group NV now owns 86,730 shares of the financial services provider’s stock valued at $10,370,000 after purchasing an additional 72,308 shares during the period. Algebris UK Ltd lifted its position in M&T Bank by 74.2% during the first quarter. Algebris UK Ltd now owns 216,705 shares of the financial services provider’s stock valued at $25,993,000 after purchasing an additional 92,288 shares during the period. LPL Financial LLC lifted its position in M&T Bank by 14.4% during the second quarter. LPL Financial LLC now owns 96,133 shares of the financial services provider’s stock valued at $11,897,000 after purchasing an additional 12,116 shares during the period. Center For Asset Management LLC bought a new position in M&T Bank during the second quarter valued at approximately $382,000. Finally, Capital Market Strategies LLC bought a new position in M&T Bank during the second quarter valued at approximately $416,000. Hedge funds and other institutional investors own 82.86% of the company’s stock.

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 offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.