M&T Bank (NYSE:MTB) Earns Buy (B-) Rating from Weiss Ratings

Key Points

• M&T Bank's stock has received a reaffirmed "buy (B-)" rating from Weiss Ratings, with a current consensus target price of $216.18.
• Recent quarterly earnings revealed earnings per share of $4.28, surpassing the consensus estimate of $4.04, alongside a revenue of $2.40 billion.
• Insider transactions show significant shares sold by directors, indicating a decrease in their positions, while institutional investors own 84.68% of the stock.

M&T Bank (NYSE:MTB - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

MTB has been the topic of several other research reports. Wells Fargo & Company increased their price objective on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their target price on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Cantor Fitzgerald began coverage on M&T Bank in a research report on Wednesday, September 10th. They set an "overweight" rating and a $228.00 target price for the company. Piper Sandler began coverage on M&T Bank in a research report on Monday. They set an "overweight" rating and a $225.00 target price for the company. Finally, DA Davidson lifted their target price on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Thirteen analysts have rated the stock with a Buy rating, eight have assigned 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 "Moderate Buy" and a consensus target price of $216.18.

M&T Bank Stock Down 0.8%

Shares of MTB opened at $188.14 on Wednesday. The firm has a fifty day moving average price of $195.31 and a 200-day moving average price of $186.08. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $29.40 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.93 and a beta of 0.62. M&T Bank has a 12-month low of $150.75 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter last year, the business posted $3.73 EPS. Equities research analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the transaction, the director directly owned 17,866 shares of the company's stock, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,738 shares of company stock valued at $3,734,612. Corporate insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTB. UMB Bank n.a. increased its position in M&T Bank by 17.6% during the 1st quarter. UMB Bank n.a. now owns 688 shares of the financial services provider's stock valued at $123,000 after buying an additional 103 shares in the last quarter. Farther Finance Advisors LLC increased its position in M&T Bank by 3.8% during the 1st quarter. Farther Finance Advisors LLC now owns 2,726 shares of the financial services provider's stock valued at $481,000 after buying an additional 99 shares in the last quarter. GAMMA Investing LLC increased its position in M&T Bank by 3.9% during the 1st quarter. GAMMA Investing LLC now owns 3,948 shares of the financial services provider's stock valued at $706,000 after buying an additional 148 shares in the last quarter. SG Americas Securities LLC increased its position in M&T Bank by 130.4% during the 1st quarter. SG Americas Securities LLC now owns 9,703 shares of the financial services provider's stock valued at $1,734,000 after buying an additional 5,492 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in M&T Bank by 4.1% during the 1st quarter. Fifth Third Bancorp now owns 9,851 shares of the financial services provider's stock valued at $1,761,000 after buying an additional 391 shares in the last quarter. 84.68% of the stock is 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.

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