M&T Bank (NYSE:MTB) Upgraded by Wall Street Zen to Hold Rating

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

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald boosted their target price on shares of M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Piper Sandler boosted their price objective on shares of M&T Bank from $225.00 to $235.00 in a research note on Friday, January 16th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Barclays lifted their target price on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Finally, Bank of America reissued a “neutral” rating and issued a $225.00 price target on shares of M&T Bank in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $224.29.

M&T Bank Price Performance

Shares of MTB opened at $221.89 on Friday. M&T Bank has a 12-month low of $150.75 and a 12-month high of $222.83. The business has a 50-day simple moving average of $205.52 and a two-hundred day simple moving average of $196.21. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The stock has a market cap of $34.10 billion, a PE ratio of 13.01, a PEG ratio of 0.97 and a beta of 0.59.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the firm posted $3.77 earnings per share. Analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

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

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the sale, the director owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Gary N. Geisel sold 887 shares of M&T Bank stock in a transaction that occurred 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 approximately $3,548,882.34. The trade was a 5.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,003 shares of company stock worth $6,283,182 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of Jackson Hole Trust boosted its stake in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 120 shares in the last quarter. Triumph Capital Management acquired a new position in shares of M&T Bank during the third quarter valued at about $32,000. Golden State Wealth Management LLC boosted its position 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 in the last quarter. Ameriflex Group Inc. boosted its position in shares of M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of M&T Bank in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

About M&T Bank

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.