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 report issued on Saturday morning.

A number of other analysts also recently issued reports on MTB. JPMorgan Chase & Co. lifted their price objective on M&T Bank from $217.00 to $244.50 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Citigroup raised their target price on shares of M&T Bank from $215.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, January 2nd. Truist Financial set a $230.00 price target on shares of M&T Bank in a research report on Tuesday, January 20th. Barclays upped their price target on shares of 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. Finally, Robert W. Baird increased 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $232.87.

M&T Bank Trading Down 0.8%

Shares of M&T Bank stock opened at $208.79 on Friday. M&T Bank has a twelve month low of $150.75 and a twelve month high of $239.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $219.24 and a 200-day moving average price of $202.57. The firm has a market cap of $31.11 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.92 and a beta of 0.58.

M&T Bank (NYSE:MTB) last posted 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 return on equity of 10.94% and a net margin of 21.55%.The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business earned $3.77 earnings per share. Equities research analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a $1.50 dividend. The ex-dividend date is Monday, March 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.9%. M&T Bank’s payout ratio is 35.19%.

Insider Buying and Selling

In other news, EVP Michael A. Wisler sold 8,237 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the transaction, the executive vice president owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. The trade was a 63.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 909 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the sale, the director owned 5,976 shares in the company, valued at $1,358,763.12. The trade was a 13.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 49,092 shares of company stock worth $11,182,250. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its stake in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the period. Bank of Jackson Hole Trust raised its position 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 during the period. Triumph Capital Management bought a new stake in M&T Bank in the third quarter worth about $32,000. Elyxium Wealth LLC bought a new stake in M&T Bank in the fourth quarter worth about $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of M&T Bank during the second quarter valued at approximately $36,000. 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.