M&T Bank (NYSE:MTB) Downgraded to Sell Rating by Wall Street Zen

M&T Bank (NYSE:MTB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other research analysts have also issued reports on MTB. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Robert W. Baird boosted their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada upped their target price on M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, January 16th. Finally, Cantor Fitzgerald raised their price target on M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $224.24.

M&T Bank Stock Performance

Shares of MTB traded down $3.77 during trading hours on Friday, hitting $213.69. The company had a trading volume of 1,248,298 shares, compared to its average volume of 972,771. The business has a fifty day moving average of $202.04 and a 200-day moving average of $195.65. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The firm has a market cap of $32.84 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.96 and a beta of 0.59. M&T Bank has a 12 month low of $150.75 and a 12 month high of $222.18.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the business earned $3.77 EPS. Equities analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Buying and Selling at M&T Bank

In related news, Director John P. Barnes sold 17,866 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total value of $3,944,991.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares in the company, valued at $3,244,324.20. The trade was a 26.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,116 shares of company stock worth $6,091,776. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently modified their holdings of MTB. Canoe Financial LP lifted its stake in M&T Bank by 50.5% in the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after buying an additional 219,065 shares during the period. Marshall Wace LLP lifted its stake in shares of M&T Bank by 6.2% in the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after buying an additional 33,920 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of M&T Bank by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after buying an additional 13,749 shares during the last quarter. RNC Capital Management LLC increased its position in shares of M&T Bank by 0.3% during the second quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock worth $70,430,000 after acquiring an additional 1,058 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of M&T Bank by 19.9% in the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after acquiring an additional 56,750 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.