M&T Bank (NYSE:MTB) Downgraded by StockNews.com

StockNews.com downgraded shares of M&T Bank (NYSE:MTB) from a hold rating to a sell rating in a research report released on Tuesday morning.

MTB has been the topic of a number of other reports. Wells Fargo & Company cut shares of M&T Bank from an equal weight rating to an underweight rating and decreased their price objective for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. upgraded M&T Bank from a neutral rating to an overweight rating and lifted their price target for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Citigroup upped their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a buy rating in a research report on Friday, July 19th. DA Davidson lifted their target price on M&T Bank from $159.00 to $185.00 and gave the company a neutral rating in a research report on Friday, July 19th. Finally, Wedbush increased their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an outperform rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $178.35.

M&T Bank Stock Performance

MTB opened at $175.38 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank has a 52-week low of $108.53 and a 52-week high of $180.63. The firm has a market cap of $29.26 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 3.55 and a beta of 0.76. The business’s fifty day moving average is $168.40 and its 200-day moving average is $154.33.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the business posted $5.12 earnings per share. Sell-side analysts expect that M&T Bank will post 14.23 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.08%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock valued at $5,115,349 over the last 90 days. 0.82% of the stock is owned by insiders.

Institutional Trading of M&T Bank

A number of large investors have recently bought and sold shares of MTB. Meeder Advisory Services Inc. boosted its stake in M&T Bank by 3.9% during the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of M&T Bank by 1.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after buying an additional 70 shares during the period. Umpqua Bank increased its position in M&T Bank by 5.3% in the 2nd quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after buying an additional 73 shares in the last quarter. Fulton Bank N.A. raised its stake in M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after buying an additional 81 shares during the period. Finally, Tritonpoint Wealth LLC boosted its holdings in M&T Bank by 2.3% in the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 87 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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.