StockNews.com Downgrades M&T Bank (NYSE:MTB) to Sell

M&T Bank (NYSE:MTB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Other equities analysts have also recently issued research reports about the company. Evercore ISI lifted their price target on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Morgan Stanley boosted their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. UBS Group raised their price target on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Wells Fargo & Company upped their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, Bank of America increased their price objective on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Trading Up 0.2 %

NYSE MTB opened at $146.58 on Friday. The company has a market cap of $24.42 billion, a PE ratio of 9.91, a PEG ratio of 1.22 and a beta of 0.78. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.93. The stock has a 50 day moving average of $141.81 and a 200-day moving average of $134.54. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the prior year, the business earned $4.09 EPS. On average, equities research analysts anticipate that M&T Bank will post 13.92 EPS for the current fiscal year.

Insider Activity

In other news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Barnes sold 10,000 shares of M&T Bank stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares in the company, valued at $5,081,914.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,119 shares of company stock worth $6,679,812. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the business. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the 4th quarter worth approximately $25,000. General Partner Inc. bought a new stake in shares of M&T Bank during the first quarter worth $27,000. Headinvest LLC acquired a new position in shares of M&T Bank during the third quarter worth $29,000. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank in the 1st quarter valued at $30,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of M&T Bank during the 4th quarter valued at $32,000. 84.68% of the stock is currently owned by institutional investors.

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.