M&T Bank (NYSE:MTB) Downgraded by StockNews.com

M&T Bank (NYSE:MTB) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other equities analysts also recently commented on MTB. Royal Bank of Canada boosted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods boosted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Morgan Stanley boosted their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, DA Davidson boosted their price target on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Two equities research 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’s stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $185.75.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $178.74 on Thursday. The company has a market capitalization of $29.82 billion, a PE ratio of 12.09, a P/E/G ratio of 3.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day simple moving average of $168.84 and a two-hundred day simple moving average of $155.72. M&T Bank has a one year low of $108.53 and a one year high of $180.63.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate 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 posted $5.12 earnings per share. Research analysts expect that M&T Bank will post 14.23 EPS for the current fiscal year.

Insider Activity at M&T Bank

In related 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 sale, the director now owns 31,796 shares in the company, valued at $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the transaction, the director now directly owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the director now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 Inflows and Outflows

Several large investors have recently made changes to their positions in MTB. Marshall Wace LLP raised its stake in shares of M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares during the period. Los Angeles Capital Management LLC raised its stake in M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Vest Financial LLC acquired a new position in M&T Bank in the 1st quarter valued at $18,147,000. Dimensional Fund Advisors LP raised its stake in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in M&T Bank by 195.1% in the 1st quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock valued at $19,480,000 after purchasing an additional 83,814 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.