M&T Bank (NYSE:MTB) Receives Neutral Rating from DA Davidson

DA Davidson restated their neutral rating on shares of M&T Bank (NYSE:MTB - Free Report) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $159.00 price target on the financial services provider's stock.

A number of other analysts have also recently weighed in on MTB. Bank of America raised their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a buy rating in a report on Tuesday. StockNews.com downgraded shares of M&T Bank from a hold rating to a sell rating in a research report on Wednesday, December 27th. Evercore ISI raised their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an in-line rating in a report on Thursday, March 28th. Piper Sandler dropped their price objective on shares of M&T Bank from $156.00 to $152.00 and set an overweight rating on the stock in a report on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft downgraded M&T Bank from a buy rating to a hold rating and set a $145.00 target price on the stock. in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $157.98.

M&T Bank Stock Down 2.5 %

M&T Bank stock traded down $3.57 during midday trading on Tuesday, hitting $137.37. 1,233,249 shares of the company's stock were exchanged, compared to its average volume of 1,217,202. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.23. The firm has a 50-day moving average of $139.44 and a two-hundred day moving average of $132.72. The company has a market cap of $22.89 billion, a PE ratio of 8.71, a P/E/G ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the company earned $4.09 earnings per share. As a group, analysts expect that M&T Bank will post 13.89 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.79%. The ex-dividend date was Friday, March 1st. M&T Bank's payout ratio is 32.95%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company's stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares of the company's stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MTB. Pasadena Private Wealth LLC acquired a new position in shares of M&T Bank during the 1st quarter worth about $206,000. Wealth Enhancement Advisory Services LLC raised its position in shares of M&T Bank by 5.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the financial services provider's stock worth $2,538,000 after purchasing an additional 967 shares during the last quarter. Visionary Horizons LLC acquired a new position in shares of M&T Bank during the 1st quarter worth about $413,000. Brookstone Capital Management raised its position in shares of M&T Bank by 4.6% during the 1st quarter. Brookstone Capital Management now owns 4,858 shares of the financial services provider's stock worth $707,000 after purchasing an additional 213 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of M&T Bank by 540.2% during the 1st quarter. Sunbelt Securities Inc. now owns 1,543 shares of the financial services provider's stock worth $224,000 after purchasing an additional 1,302 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.