M&T Bank (NYSE:MTB) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded M&T Bank from a "sell" to a "hold," and MarketBeat shows a consensus rating of "Hold" with an average analyst target price of $232.34.
• Multiple analysts have recently raised price targets (e.g., Morgan Stanley to $271, Jefferies to $255, Baird to $230, Barclays to $236), but coverage remains mixed: 1 Strong Buy, 7 Buy, 12 Hold and 1 Sell.
• M&T beat EPS expectations ($4.72 vs. $4.47) while revenue missed ($1.79B vs. $2.47B); insiders sold ~49,092 shares (~$11.18M) recently and institutional ownership is high at 84.68%.

M&T Bank (NYSE:MTB - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other equities research analysts also recently commented on MTB. Robert W. Baird upped their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, December 18th. Morgan Stanley boosted their price target on shares of M&T Bank from $251.00 to $271.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Jefferies Financial Group upped their price target on shares of M&T Bank from $250.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, January 16th. TD Cowen reaffirmed a "buy" rating on shares of M&T Bank in a report on Wednesday, January 7th. Finally, Barclays lifted their price objective on shares of M&T Bank from $220.00 to $236.00 and gave the company an "equal weight" rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $232.34.

M&T Bank Stock Performance

NYSE:MTB opened at $210.43 on Friday. The company has a market capitalization of $31.35 billion, a P/E ratio of 12.34, a P/E/G ratio of 0.95 and a beta of 0.58. The business has a fifty day simple moving average of $219.16 and a two-hundred day simple moving average of $202.30. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank has a 1 year low of $150.75 and a 1 year high of $239.00.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company earned $3.77 EPS. On average, analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

Insider Activity

In other news, EVP Michael A. Wisler sold 8,237 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the transaction, the executive vice president directly owned 4,643 shares in the company, valued at approximately $1,037,617.64. This trade represents a 63.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Gary N. Geisel sold 887 shares of the business's stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the transaction, the insider directly owned 16,446 shares of the company's stock, valued at approximately $3,548,882.34. This represents a 5.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 49,092 shares of company stock valued at $11,182,250. Corporate insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC increased its holdings in shares of M&T Bank by 11.9% in the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider's stock worth $607,000 after purchasing an additional 362 shares during the period. Woodline Partners LP boosted its stake in M&T Bank by 40.7% during the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider's stock valued at $2,506,000 after buying an additional 4,054 shares during the period. Golden State Wealth Management LLC boosted its stake in M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider's stock valued at $31,000 after buying an additional 155 shares during the period. Ibex Wealth Advisors purchased a new position in M&T Bank during the second quarter worth about $557,000. Finally, ABC Arbitrage SA purchased a new position in M&T Bank during the second quarter worth about $1,598,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

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