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

M&T Bank (NYSE:MTB - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Wednesday.

Several other research firms also recently weighed in on MTB. Wells Fargo & Company dropped their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research note on Tuesday, April 15th. Royal Bank of Canada dropped their price objective on M&T Bank from $208.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Barclays dropped their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley dropped their price objective on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $209.33.

M&T Bank Stock Performance

Shares of MTB stock traded up $0.80 during trading hours on Wednesday, reaching $187.78. 1,114,815 shares of the company's stock were exchanged, compared to its average volume of 1,135,344. The company has a market cap of $30.14 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company's 50 day moving average is $171.22 and its two-hundred day moving average is $189.33. M&T Bank has a 1 year low of $139.78 and a 1 year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the company posted $3.09 earnings per share. Equities research analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has initiated a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company's stock.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider's stock valued at $3,195,000 after acquiring an additional 52 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of M&T Bank by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after purchasing an additional 53 shares in the last quarter. Catalina Capital Group LLC lifted its stake in shares of M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider's stock worth $531,000 after purchasing an additional 56 shares in the last quarter. Marcum Wealth LLC lifted its stake in shares of M&T Bank by 4.9% during the first quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after purchasing an additional 57 shares in the last quarter. Finally, First Manhattan CO. LLC. lifted its stake in shares of M&T Bank by 0.6% during the first quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider's stock worth $1,733,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

About M&T Bank

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.