M&T Bank (NYSE:MTB) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of M&T Bank (NYSE:MTB) from a hold rating to a sell rating in a report published on Thursday morning, ValuEngine reports.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. JPMorgan Chase & Co. restated a buy rating on shares of Gilead Sciences in a research report on Tuesday, July 2nd. Citigroup upgraded Infosys from a neutral rating to a buy rating in a research report on Friday, July 12th. Wedbush raised their price target on Wintrust Financial from $79.00 to $80.00 and gave the company an outperform rating in a research report on Tuesday, April 16th. Finally, UBS Group raised their price target on Willis Towers Watson from $202.00 to $220.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $181.17.

NYSE:MTB opened at $162.87 on Thursday. The business has a fifty day simple moving average of $168.19. The stock has a market capitalization of $22.25 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 1.06. M&T Bank has a 1 year low of $133.78 and a 1 year high of $180.77.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.36). The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. During the same quarter in the previous year, the company posted $3.26 EPS. Sell-side analysts anticipate that M&T Bank will post 14.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, May 31st. M&T Bank’s payout ratio is 31.10%.

In other news, CFO Darren J. King sold 1,841 shares of M&T Bank stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $162.95, for a total value of $299,990.95. Following the transaction, the chief financial officer now directly owns 46,263 shares of the company’s stock, valued at approximately $7,538,555.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Doris P. Meister sold 460 shares of M&T Bank stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $160.29, for a total value of $73,733.40. Following the completion of the transaction, the insider now directly owns 1,553 shares in the company, valued at $248,930.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,521 shares of company stock worth $920,389. 0.54% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Liberty Wealth Management LLC lifted its stake in shares of M&T Bank by 972.7% in the 1st quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 214 shares in the last quarter. Webster Bank N. A. acquired a new position in shares of M&T Bank in the 2nd quarter valued at about $43,000. Pearl River Capital LLC purchased a new stake in shares of M&T Bank during the 1st quarter valued at about $42,000. CX Institutional purchased a new stake in shares of M&T Bank during the 1st quarter valued at about $47,000. Finally, Legacy Advisors LLC purchased a new stake in shares of M&T Bank during the 1st quarter valued at about $66,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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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Analyst Recommendations for M&T Bank (NYSE:MTB)

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