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

StockNews.com cut shares of M&T Bank (NYSE:MTB) from a hold rating to a sell rating in a research report report published on Thursday.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group increased their price target on M&T Bank from $160.00 to $161.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. DA Davidson lifted their target price on shares of M&T Bank from $159.00 to $185.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Wells Fargo & Company downgraded shares of M&T Bank from an equal weight rating to an underweight rating and dropped their target price for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Bank of America raised their price target on shares of M&T Bank from $160.00 to $188.00 and gave the stock a buy rating in a report on Monday, July 22nd. Finally, Wedbush boosted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an outperform rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of Hold and an average target price of $185.75.

M&T Bank Stock Up 3.7 %

NYSE:MTB opened at $178.74 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $29.82 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.55 and a beta of 0.75. The company’s 50-day simple moving average is $168.84 and its 200-day simple moving average is $155.83. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $180.63.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company earned $5.12 earnings per share. On average, equities analysts anticipate that M&T Bank will post 14.23 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.02%. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Transactions 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 shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. General Partner Inc. purchased a new stake in M&T Bank in the 1st quarter worth $27,000. Fidelis Capital Partners LLC acquired a new position in shares of M&T Bank during the 1st quarter worth about $30,000. Oakworth Capital Inc. purchased a new position in M&T Bank in the 2nd quarter valued at about $35,000. Versant Capital Management Inc boosted its holdings in M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after buying an additional 201 shares during the last quarter. Finally, Bank & Trust Co purchased a new stake in M&T Bank during the 2nd quarter worth approximately $70,000. 84.68% of the stock is 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.