M&T Bank (NYSE:MTB) Stock Rating Upgraded 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 Friday.

Other analysts also recently issued research reports about the stock. Piper Sandler upped their price target on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Friday, October 4th. 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. DA Davidson upped their price objective on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Morgan Stanley boosted their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $196.18.

M&T Bank Price Performance

M&T Bank stock opened at $197.55 on Friday. The stock’s fifty day moving average price is $172.93 and its two-hundred day moving average price is $158.92. The firm has a market cap of $32.96 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a one year low of $108.53 and a one year high of $200.94.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during 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 quarter in the previous year, the firm earned $5.12 earnings per share. As a group, research analysts expect that M&T Bank will post 14.16 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the sale, the insider now directly owns 47,944 shares of the company’s stock, valued at approximately $7,780,352.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of M&T Bank

Large investors have recently bought and sold shares of the business. Vest Financial LLC lifted its stake in shares of M&T Bank by 1.3% in the 3rd quarter. Vest Financial LLC now owns 150,454 shares of the financial services provider’s stock valued at $26,799,000 after purchasing an additional 1,869 shares during the period. Resonant Capital Advisors LLC increased its holdings in M&T Bank by 28.6% in the third quarter. Resonant Capital Advisors LLC now owns 2,110 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 469 shares in the last quarter. Wealth Alliance Advisory Group LLC bought a new position in shares of M&T Bank during the 3rd quarter worth approximately $277,000. Raymond James & Associates grew its position in shares of M&T Bank by 11.0% during the 3rd quarter. Raymond James & Associates now owns 66,209 shares of the financial services provider’s stock worth $11,793,000 after buying an additional 6,552 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of M&T Bank by 79.1% in the 3rd quarter. Blue Trust Inc. now owns 2,491 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 1,100 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.