M&T Bank (NYSE:MTB) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
Several other research firms also recently commented on MTB. Robert W. Baird downgraded M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price objective on the stock. in a report on Thursday, February 21st. Barclays reiterated a “buy” rating and issued a $207.00 price objective on shares of M&T Bank in a report on Thursday, February 21st. Wedbush set a $165.00 price objective on M&T Bank and gave the stock a “hold” rating in a report on Friday, January 18th. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price objective on the stock in a report on Friday, January 18th. Finally, UBS Group upgraded M&T Bank from a “sell” rating to a “neutral” rating in a report on Tuesday, January 8th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $180.27.
MTB opened at $173.33 on Friday. The stock has a market capitalization of $23.59 billion, a PE ratio of 13.48, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank has a 12 month low of $133.78 and a 12 month high of $192.35.
M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 17th. The financial services provider reported $3.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.49 by $0.27. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. M&T Bank had a return on equity of 14.24% and a net margin of 29.72%. During the same quarter in the previous year, the business earned $2.66 earnings per share. On average, analysts predict that M&T Bank will post 14.62 earnings per share for the current year.
In related news, CFO Darren J. King sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $164.56, for a total value of $1,645,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary N. Geisel sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.00, for a total value of $173,173.00. Following the completion of the sale, the director now directly owns 17,512 shares in the company, valued at $3,029,576. The disclosure for this sale can be found here. Insiders sold 12,766 shares of company stock worth $2,111,968 over the last three months. 0.54% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MTB. FMR LLC grew its stake in shares of M&T Bank by 74.1% in the fourth quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock worth $851,195,000 after purchasing an additional 2,532,038 shares during the last quarter. Norges Bank bought a new stake in M&T Bank during the 4th quarter valued at approximately $174,207,000. TIAA CREF Investment Management LLC boosted its position in M&T Bank by 118.1% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 872,268 shares of the financial services provider’s stock valued at $143,523,000 after acquiring an additional 472,403 shares in the last quarter. Janus Henderson Group PLC boosted its position in M&T Bank by 104.2% during the 3rd quarter. Janus Henderson Group PLC now owns 727,518 shares of the financial services provider’s stock valued at $119,706,000 after acquiring an additional 371,263 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in M&T Bank during the 3rd quarter valued at approximately $58,258,000. 78.95% of the stock is currently owned by institutional investors.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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