StockNews.com Downgrades M&T Bank (NYSE:MTB) to Sell

M&T Bank (NYSE:MTB) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other analysts also recently weighed in on the stock. Evercore ISI raised shares of M&T Bank from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $187.00 to $210.00 in a research report on Wednesday. Wells Fargo & Company downgraded shares of M&T Bank from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Wedbush increased their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada increased their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.75.

M&T Bank Stock Up 3.7 %

NYSE:MTB opened at $178.74 on Thursday. The firm’s 50-day moving average price is $168.84 and its 200-day moving average price is $155.72. The company has a market capitalization of $29.82 billion, a PE ratio of 12.09, a P/E/G ratio of 3.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 1-year low of $108.53 and a 1-year high of $180.63.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the firm earned $5.12 EPS. On average, equities analysts predict that M&T Bank will post 14.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock valued at $5,115,349 over the last three months. 0.82% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently made changes to their positions in the business. General Partner Inc. bought a new stake in shares of M&T Bank in the first quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the first quarter valued at about $30,000. Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the second quarter valued at about $35,000. Versant Capital Management Inc raised its holdings in shares of M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 201 shares in the last quarter. Finally, Bank & Trust Co bought a new stake in shares of M&T Bank in the second quarter valued at about $70,000. 84.68% of the stock is currently owned by institutional investors.

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.