M&T Bank (NYSE:MTB) Stock Rated Hold in New Coverage at TD Cowen

TD Cowen initiated coverage on shares of M&T Bank (NYSE:MTB) in a report published on Thursday morning, MarketBeat.com reports. The firm issued a hold rating and a $245.00 price objective on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada lifted their price target on M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Evercore set a $230.00 price objective on M&T Bank in a research note on Thursday, October 1st. Keefe, Bruyette & Woods upped their price objective on M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a research note on Thursday, July 16th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Raymond James Financial assumed coverage on M&T Bank in a research note on Tuesday. They issued an “outperform” rating and a $250.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $250.21.

M&T Bank Price Performance

NYSE MTB opened at $217.32 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. The firm’s 50 day moving average price is $235.29 and its 200-day moving average price is $228.02. M&T Bank has a 52-week low of $174.76 and a 52-week high of $255.95. The company has a market cap of $31.39 billion, a PE ratio of 11.47, a P/E/G ratio of 1.23 and a beta of 0.61.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the previous year, the firm posted $4.28 earnings per share. Sell-side analysts forecast that M&T Bank will post 19.42 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, September 1st. M&T Bank’s dividend payout ratio is currently 31.68%.

Insiders Place Their Bets

In related news, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director directly owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO René Jones sold 19,396 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares in the company, valued at $24,851,949.85. This represents a 15.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,028 shares of company stock valued at $4,794,884 in the last three months. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Large investors have recently modified their holdings of the business. Eastern Bank increased its holdings in M&T Bank by 259.2% in the 3rd quarter. Eastern Bank now owns 24,456 shares of the financial services provider’s stock worth $5,322,000 after buying an additional 17,647 shares during the period. Danske Bank A S acquired a new stake in M&T Bank during the 2nd quarter valued at approximately $34,683,000. Adams Diversified Equity Fund Inc. lifted its stake in M&T Bank by 22.8% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock valued at $24,786,000 after acquiring an additional 22,300 shares during the period. Amundi boosted its holdings in shares of M&T Bank by 7.7% in the 2nd quarter. Amundi now owns 388,916 shares of the financial services provider’s stock valued at $92,566,000 after acquiring an additional 27,795 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of M&T Bank in the 2nd quarter valued at $330,978,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank News Summary

Here are the key news stories impacting M&T Bank this week:

• Positive Sentiment: Raymond James initiated coverage with an “outperform” rating and a $250 price target, implying substantial upside from the reference price. The call reflects confidence in M&T Bank’s earnings outlook and valuation. M&T Bank Stock Bumped Up to Moderate Buy by Raymond James Financial
• Positive Sentiment: Zacks said M&T Bank has the key factors needed for a potential earnings beat in its forthcoming report, raising expectations ahead of the release. A stronger-than-expected result could support the shares. M&T Bank Corporation Earnings Expected to Grow
• Neutral Sentiment: TD Cowen began coverage with a “hold” rating and a $245 price target. Although the target indicates potential upside, the neutral recommendation suggests the firm wants to see additional evidence from earnings or operating trends before becoming more constructive.
• Neutral Sentiment: M&T Bank is expected to announce quarterly earnings on Friday, making the report the primary near-term catalyst. Investors will focus on revenue, net interest income, credit quality and management’s outlook. M&T Bank Expected to Announce Earnings on Friday

About M&T Bank

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.