M&T Bank (NYSE:MTB) Raised to Hold at Wall Street Zen

M&T Bank (NYSE:MTB) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently commented on the company. DA Davidson upped their target price on M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Cantor Fitzgerald started coverage on M&T Bank in a research note on Wednesday, September 10th. They set an “overweight” rating and a $228.00 target price on the stock. Cowen reiterated a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Piper Sandler started coverage on M&T Bank in a report on Monday, October 6th. They issued an “overweight” rating and a $225.00 target price on the stock. Finally, Truist Financial dropped their target price on M&T Bank from $227.00 to $217.00 and set a “buy” rating on the stock in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, M&T Bank has an average rating of “Moderate Buy” and an average target price of $217.76.

M&T Bank Trading Up 0.6%

Shares of NYSE MTB opened at $183.94 on Friday. M&T Bank has a 12 month low of $150.75 and a 12 month high of $225.70. The company has a market cap of $28.27 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 0.87 and a beta of 0.62. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $192.89 and a 200-day simple moving average of $188.26.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The business had revenue of $1.54 billion during the quarter. Sell-side analysts predict that M&T Bank will post 16.57 EPS for the current year.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares of the company’s stock, valued at $3,569,448.14. This trade represents a 45.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Trust Co. NA grew its holdings in shares of M&T Bank by 16.5% during the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 91 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of M&T Bank during the 1st quarter worth approximately $225,000. Raymond James Financial Inc. grew its holdings in shares of M&T Bank by 1.8% during the 1st quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider’s stock worth $21,088,000 after purchasing an additional 2,111 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its holdings in shares of M&T Bank by 27.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock worth $1,574,000 after purchasing an additional 1,741 shares in the last quarter. Finally, Ethic Inc. grew its holdings in shares of M&T Bank by 20.8% during the 2nd quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock worth $4,988,000 after purchasing an additional 4,432 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.