M&T Bank (NYSE:MTB) Lifted to Hold at ValuEngine

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

Several other equities research analysts also recently commented on MTB. Piper Jaffray Companies downgraded M&T Bank from an overweight rating to a neutral rating and dropped their target price for the stock from $196.00 to $168.00 in a report on Monday, July 22nd. UBS Group dropped their target price on M&T Bank from $176.00 to $172.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. Zacks Investment Research downgraded M&T Bank from a buy rating to a hold rating and set a $179.00 target price on the stock. in a report on Monday, July 1st. Macquarie set a $158.00 target price on M&T Bank and gave the stock a sell rating in a report on Friday, July 19th. Finally, Wedbush upped their price target on M&T Bank from $150.00 to $155.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. M&T Bank has an average rating of Hold and a consensus target price of $176.77.

M&T Bank stock traded up $1.86 during mid-day trading on Thursday, hitting $157.62. The company had a trading volume of 1,038,097 shares, compared to its average volume of 822,849. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.53. The business has a 50 day simple moving average of $167.60. M&T Bank has a 12 month low of $133.78 and a 12 month high of $180.77. The company has a market capitalization of $21.28 billion, a P/E ratio of 12.26, a PEG ratio of 2.18 and a beta of 1.05.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.36). M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm posted $3.26 earnings per share. Equities research analysts predict that M&T Bank will post 13.89 EPS for the current fiscal year.

In other M&T Bank news, insider Doris P. Meister sold 460 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $160.29, for a total value of $73,733.40. Following the transaction, the insider now owns 1,553 shares of the company’s stock, valued at $248,930.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert J. Bojdak sold 1,638 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $170.03, for a total value of $278,509.14. Following the completion of the transaction, the insider now directly owns 20,199 shares in the company, valued at approximately $3,434,435.97. The disclosure for this sale can be found here. In the last three months, insiders sold 3,939 shares of company stock worth $652,233. 0.54% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of MTB. First Hawaiian Bank increased its position in M&T Bank by 111.7% in the first quarter. First Hawaiian Bank now owns 4,265 shares of the financial services provider’s stock worth $669,000 after buying an additional 2,250 shares in the last quarter. Domani Wealth LLC purchased a new stake in M&T Bank in the first quarter worth about $217,000. USS Investment Management Ltd purchased a new stake in M&T Bank in the second quarter worth about $10,846,000. Dupont Capital Management Corp increased its position in M&T Bank by 130.2% in the first quarter. Dupont Capital Management Corp now owns 4,080 shares of the financial services provider’s stock worth $641,000 after buying an additional 2,308 shares in the last quarter. Finally, FSI Group LLC purchased a new stake in M&T Bank in the first quarter worth about $3,947,000. 81.51% of the stock is currently owned by institutional investors.

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.

See Also: Preferred Stock

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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