M&T Bank (NYSE:MTB) Cut to Sell at StockNews.com

M&T Bank (NYSE:MTB) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other brokerages also recently weighed in on MTB. DA Davidson raised their price target on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $187.00 to $210.00 in a research report on Wednesday. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Wedbush raised their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley upped their target price on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $184.13.

M&T Bank Stock Up 0.3 %

Shares of NYSE:MTB opened at $173.20 on Thursday. The firm has a market capitalization of $28.90 billion, a P/E ratio of 11.71, a P/E/G ratio of 3.55 and a beta of 0.76. The stock has a 50 day moving average price of $168.79 and a 200-day moving average price of $155.34. M&T Bank has a 52-week low of $108.53 and a 52-week high of $180.63. 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 (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. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the firm earned $5.12 EPS. As a group, equities research analysts anticipate that M&T Bank will post 14.23 EPS for the current fiscal year.

Insider Buying and Selling at M&T Bank

In related news, Vice Chairman Gary N. Geisel sold 500 shares of the 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 sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $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 worth $5,115,349 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP lifted its holdings in shares of M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares in the last quarter. Vest Financial LLC acquired a new position in M&T Bank during the 1st quarter valued at approximately $18,147,000. Dimensional Fund Advisors LP raised its holdings in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of M&T Bank by 195.1% during the first quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock worth $19,480,000 after buying an additional 83,814 shares during the period. 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.