M&T Bank (NYSE:MTB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of M&T Bank (NYSE:MTB) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Several other research analysts also recently commented on MTB. The Goldman Sachs Group raised their price objective on M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Barclays raised their price target on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Truist Financial set a $230.00 price objective on shares of M&T Bank in a research note on Tuesday, January 20th. Royal Bank Of Canada increased their target price on shares of M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus target price of $224.29.

M&T Bank Trading Up 1.8%

Shares of MTB opened at $225.60 on Friday. The firm has a market capitalization of $34.67 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.97 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. M&T Bank has a 1-year low of $150.75 and a 1-year high of $226.10. The company has a 50-day moving average of $206.28 and a 200 day moving average of $196.45.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping 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 the consensus estimate of $2.47 billion. During the same period in the prior year, the firm earned $3.77 EPS. On average, research analysts expect that M&T Bank will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, December 1st. M&T Bank’s payout ratio is 35.19%.

Insider Activity

In other news, Vice Chairman Gary N. Geisel sold 887 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total value of $191,405.73. Following the completion of the sale, the insider owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This trade represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the business’s stock in a transaction on 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 owned 17,070 shares in the company, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,003 shares of company stock valued at $6,283,182 in the last ninety days. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC grew its stake in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 155 shares during the last quarter. Bank of Jackson Hole Trust boosted its stake in M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. Triumph Capital Management purchased a new stake in M&T Bank during the 3rd quarter worth approximately $32,000. Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank during the 2nd quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. raised its holdings in shares of M&T Bank by 82.4% in the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.