M&T Bank (MTB) Lowered to Sell at ValuEngine

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

A number of other equities analysts also recently issued reports on the stock. Wedbush set a $165.00 price target on shares of M&T Bank and gave the stock a “hold” rating in a research note on Friday, January 18th. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a research note on Friday, January 18th. UBS Group raised shares of M&T Bank from a “sell” rating to a “neutral” rating in a research note on Tuesday, January 8th. Morgan Stanley decreased their price target on shares of M&T Bank from $175.00 to $173.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 8th. Finally, Barclays decreased their price target on shares of M&T Bank from $210.00 to $203.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $180.40.

MTB stock traded down $1.64 during trading on Thursday, reaching $164.54. The company had a trading volume of 1,210,300 shares, compared to its average volume of 936,609. M&T Bank has a 52 week low of $133.78 and a 52 week high of $197.37. The company has a market cap of $23.16 billion, a P/E ratio of 12.79, a PEG ratio of 0.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 1.07.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $3.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.49 by $0.27. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $2.66 earnings per share. On average, equities research analysts expect that M&T Bank will post 14.62 earnings per share for the current fiscal year.

In other M&T Bank news, EVP Robert J. Bojdak sold 934 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $164.50, for a total transaction of $153,643.00. Following the completion of the transaction, the executive vice president now owns 19,567 shares of the company’s stock, valued at $3,218,771.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Doris P. Meister sold 800 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $167.24, for a total transaction of $133,792.00. Following the transaction, the insider now directly owns 342 shares of the company’s stock, valued at approximately $57,196.08. The disclosure for this sale can be found here. Insiders have sold 3,266 shares of company stock valued at $543,960 in the last ninety days. Insiders own 0.48% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in shares of M&T Bank by 21.9% during the fourth quarter. IFP Advisors Inc now owns 351 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 63 shares in the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of M&T Bank by 1.4% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 5,527 shares of the financial services provider’s stock valued at $791,000 after buying an additional 75 shares during the last quarter. First Midwest Bank Trust Division grew its holdings in shares of M&T Bank by 7.7% during the fourth quarter. First Midwest Bank Trust Division now owns 1,406 shares of the financial services provider’s stock valued at $201,000 after buying an additional 100 shares during the last quarter. First National Bank of Omaha grew its holdings in shares of M&T Bank by 0.3% during the fourth quarter. First National Bank of Omaha now owns 37,632 shares of the financial services provider’s stock valued at $5,387,000 after buying an additional 121 shares during the last quarter. Finally, Norway Savings Bank grew its holdings in shares of M&T Bank by 3.6% during the fourth quarter. Norway Savings Bank now owns 4,335 shares of the financial services provider’s stock valued at $620,000 after buying an additional 150 shares during the last quarter. 80.55% of the stock is owned by institutional investors and hedge funds.

About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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