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

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

MTB has been the topic of several other research reports. Wedbush raised their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday. DA Davidson boosted their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Jefferies Financial Group increased their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Citigroup boosted their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Morgan Stanley increased their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $178.35.

M&T Bank Trading Down 1.6 %

NYSE MTB traded down $2.76 during trading on Tuesday, hitting $174.86. 1,040,153 shares of the company’s stock traded hands, compared to its average volume of 1,025,545. The stock has a fifty day moving average of $168.09 and a two-hundred day moving average of $154.06. M&T Bank has a 12-month low of $108.53 and a 12-month high of $180.63. The firm has a market cap of $29.18 billion, a P/E ratio of 11.82, a PEG ratio of 3.32 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 (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the prior year, the business posted $5.12 EPS. As a group, sell-side analysts expect that M&T Bank will post 14.24 EPS for the current year.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at $502,184.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after buying an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after purchasing an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after purchasing an additional 43,795 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares during the last quarter. 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.