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 research report report published on Friday.

MTB has been the topic of a number of other reports. Evercore ISI lifted their price objective on M&T Bank from $157.00 to $168.00 and gave the company an in-line rating in a report on Tuesday, June 25th. Wedbush reaffirmed an outperform rating and set a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. DA Davidson lifted their price objective on M&T Bank from $159.00 to $185.00 and gave the company a neutral rating in a report on Friday. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $170.00 to $180.00 and gave the company a market perform rating in a report on Friday. Finally, Wells Fargo & Company lifted 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. Ten 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, the company presently has a consensus rating of Hold and a consensus price target of $170.17.

M&T Bank Stock Up 3.4 %

MTB stock opened at $170.87 on Friday. M&T Bank has a twelve month low of $108.53 and a twelve month high of $175.00. The company has a market cap of $28.51 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The business’s 50-day simple moving average is $150.83 and its 200 day simple moving average is $144.07. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its earnings results 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 business had revenue of $3.37 billion for the quarter, compared to the consensus estimate 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 period last year, the business earned $5.12 earnings per share. On average, research analysts anticipate that M&T Bank will post 13.95 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s payout ratio is 36.51%.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 3,362 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total value of $495,121.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Doris P. Meister sold 3,362 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total value of $495,121.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 16,179 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the sale, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The disclosure for this sale can be found here. Insiders sold 95,915 shares of company stock worth $14,497,759 in the last quarter. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently made changes to their positions in MTB. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $25,000. General Partner Inc. bought a new stake in shares of M&T Bank during the 1st quarter valued at $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank during the 1st quarter valued at $30,000. BKM Wealth Management LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $32,000. Finally, CVA Family Office LLC acquired a new position in shares of M&T Bank in the 4th quarter valued at $33,000. Institutional investors own 84.68% 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 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.