M&T Bank (NYSE:MTB) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of M&T Bank (NYSE:MTB) from a peer perform rating to an outperform rating in a research note published on Friday morning, Marketbeat Ratings reports. The firm currently has $210.00 target price on the financial services provider’s stock.

A number of other research firms have also commented on MTB. Wells Fargo & Company lowered M&T Bank from an equal weight rating to an underweight rating and cut their price objective for the stock from $170.00 to $165.00 in a research note on Thursday, August 15th. DA Davidson boosted their target price on shares of M&T Bank from $159.00 to $185.00 and gave the company a neutral rating in a report on Friday, July 19th. Citigroup increased their price target on M&T Bank from $180.00 to $195.00 and gave the stock a buy rating in a report on Friday, July 19th. Morgan Stanley boosted their price objective on M&T Bank from $195.00 to $220.00 and gave the company an overweight rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lifted their target price on M&T Bank from $160.00 to $174.00 and gave the stock an outperform rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, M&T Bank has an average rating of Hold and a consensus price target of $185.75.

M&T Bank Price Performance

Shares of MTB opened at $177.83 on Friday. The company’s 50-day moving average is $168.84 and its 200-day moving average is $155.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $29.67 billion, a PE ratio of 12.02, a PEG ratio of 3.55 and a beta of 0.75. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $180.63.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the previous year, the company earned $5.12 EPS. Equities analysts forecast that M&T Bank will post 14.23 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. M&T Bank’s payout ratio is 36.51%.

Insider Activity

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 over the last quarter. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake in M&T Bank by 9.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,896 shares of the financial services provider’s stock valued at $534,000 after buying an additional 346 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $541,000. NEOS Investment Management LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $292,000. Tower Research Capital LLC TRC lifted its holdings in M&T Bank by 240.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 28,518 shares of the financial services provider’s stock worth $3,909,000 after purchasing an additional 20,138 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in M&T Bank by 31.2% during the 4th quarter. 1832 Asset Management L.P. now owns 81,612 shares of the financial services provider’s stock valued at $11,187,000 after buying an additional 19,400 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

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.