M&T Bank (NYSE:MTB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of M&T Bank (NYSE:MTB - Free Report) from a sell rating to a hold rating in a report issued on Wednesday morning.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. DA Davidson boosted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Evercore ISI raised their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research report on Friday, November 15th. Finally, Truist Financial reiterated a "buy" rating and issued a $236.00 target price (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $221.68.

M&T Bank Trading Down 0.7 %

Shares of MTB traded down $1.36 during midday trading on Wednesday, reaching $200.59. The company had a trading volume of 906,333 shares, compared to its average volume of 1,306,269. The firm has a 50 day simple moving average of $197.10 and a 200-day simple moving average of $187.93. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47. The stock has a market cap of $33.28 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.42 and a beta of 0.79. M&T Bank has a 1-year low of $129.36 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the business posted $2.74 EPS. Research analysts forecast that M&T Bank will post 16.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank's payout ratio is 36.91%.

M&T Bank declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Insider Activity

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael J. Todaro sold 4,786 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the completion of the transaction, the executive vice president now directly owns 2,787 shares of the company's stock, valued at approximately $596,696.70. This trade represents a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,397 shares of company stock valued at $6,379,459 in the last three months. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of M&T Bank in the second quarter valued at $2,013,000. Park Avenue Securities LLC raised its position in M&T Bank by 5.3% in the third quarter. Park Avenue Securities LLC now owns 5,740 shares of the financial services provider's stock valued at $1,022,000 after purchasing an additional 289 shares during the period. Czech National Bank lifted its position in M&T Bank by 7.0% during the 3rd quarter. Czech National Bank now owns 34,019 shares of the financial services provider's stock worth $6,059,000 after acquiring an additional 2,224 shares in the last quarter. GAMMA Investing LLC increased its stake in M&T Bank by 29.4% during the 3rd quarter. GAMMA Investing LLC now owns 3,378 shares of the financial services provider's stock worth $602,000 after buying an additional 768 shares during the period. Finally, City Center Advisors LLC purchased a new position in M&T Bank in the 3rd quarter valued at about $234,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.