Wall Street Zen Upgrades M&T Bank (NYSE:MTB) to “Hold”

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

Other equities analysts have also recently issued reports about the company. Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. Wells Fargo & Company upped their price target on M&T Bank from $185.00 to $205.00 and gave the company an “underweight” rating in a research report on Monday, January 5th. Robert W. Baird raised their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Finally, Piper Sandler boosted their price objective on shares of M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average target price of $224.29.

M&T Bank Stock Performance

NYSE MTB opened at $221.89 on Friday. The company’s 50 day moving average is $205.52 and its 200-day moving average is $196.24. The firm has a market cap of $34.10 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. M&T Bank has a 12-month low of $150.75 and a 12-month high of $222.83. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41.

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

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 17,866 shares of M&T Bank stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total transaction of $3,944,991.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the transaction, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,003 shares of company stock worth $6,283,182 in the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently added to or reduced their stakes in the company. Munich Reinsurance Co Stock Corp in Munich increased its position in shares of M&T Bank by 37.1% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock valued at $71,462,000 after purchasing an additional 95,025 shares during the last quarter. Citizens & Northern Corp boosted its stake in M&T Bank by 7.6% in the fourth quarter. Citizens & Northern Corp now owns 3,642 shares of the financial services provider’s stock worth $734,000 after buying an additional 258 shares in the last quarter. Kingswood Wealth Advisors LLC grew its position in M&T Bank by 17.0% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 1,991 shares of the financial services provider’s stock valued at $401,000 after acquiring an additional 289 shares during the last quarter. Salomon & Ludwin LLC grew its position in M&T Bank by 45.5% during the fourth quarter. Salomon & Ludwin LLC now owns 339 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 106 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of M&T Bank during the fourth quarter worth approximately $42,817,000. Institutional investors own 84.68% of the company’s stock.

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.