Research Analysts’ Weekly Ratings Updates for M&T Bank (MTB)

M&T Bank (NYSE: MTB) recently received a number of ratings updates from brokerages and research firms:

  • 4/5/2019 – M&T Bank had its price target raised by analysts at Barclays PLC from $207.00 to $210.00. They now have an “overweight” rating on the stock.
  • 4/2/2019 – M&T Bank was given a new $169.00 price target on by analysts at UBS Group AG. They now have a “hold” rating on the stock.
  • 3/29/2019 – M&T Bank was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of M&T Bank have outperformed the industry over the past six months. Also, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Top-line growth looks encouraging given its diverse fee income base, higher rates, and high loan and deposit balances. Also, the bank’s involvement in steady capital-deployment activities boosts shareholders’ confidence. However, persistently rising expenses is a concern. As the bank upgrades infrastructure and technology, costs are expected to remain elevated. Further, significant exposure to commercial real estate loans remain key concerns.”
  • 3/21/2019 – M&T Bank was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 3/19/2019 – M&T Bank had its price target raised by analysts at Citigroup Inc from $162.00 to $172.00. They now have a “neutral” rating on the stock.
  • 3/15/2019 – M&T Bank was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 2/27/2019 – M&T Bank was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 2/21/2019 – M&T Bank was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $175.00 price target on the stock.
  • 2/21/2019 – M&T Bank had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $207.00 price target on the stock.
  • 2/13/2019 – M&T Bank was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

NYSE:MTB traded down $0.46 during midday trading on Wednesday, reaching $161.67. The stock had a trading volume of 14,987 shares, compared to its average volume of 875,641. M&T Bank Co. has a 1-year low of $133.78 and a 1-year high of $188.80. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $22.60 billion, a PE ratio of 12.57, a PEG ratio of 0.85 and a beta of 1.06.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 17th. The financial services provider reported $3.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.49 by $0.27. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business posted $2.66 EPS. As a group, analysts anticipate that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $4.00 dividend on an annualized basis and a yield of 2.47%. M&T Bank’s payout ratio is presently 31.10%.

In other M&T Bank news, VP Michele D. Trolli sold 5,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.14, for a total value of $865,700.00. Following the completion of the sale, the vice president now directly owns 10,878 shares of the company’s stock, valued at approximately $1,883,416.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary N. Geisel sold 1,001 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.00, for a total transaction of $173,173.00. Following the completion of the sale, the director now directly owns 17,512 shares of the company’s stock, valued at $3,029,576. The disclosure for this sale can be found here. Insiders sold a total of 17,766 shares of company stock worth $2,977,668 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in shares of M&T Bank by 21.9% during the 4th quarter. IFP Advisors Inc now owns 351 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 63 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in M&T Bank by 13.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 608 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 73 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in M&T Bank by 1.4% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 5,527 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 75 shares during the last quarter. Alps Advisors Inc. lifted its holdings in M&T Bank by 4.9% during the 4th quarter. Alps Advisors Inc. now owns 1,617 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 76 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in M&T Bank by 2.1% during the 4th quarter. Nuveen Asset Management LLC now owns 3,656 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 76 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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