M&T Bank (NYSE:MTB) Rating Increased to Buy at Deutsche Bank

M&T Bank (NYSE:MTB) was upgraded by Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued on Monday, January 6th, Marketbeat.com reports.

MTB has been the subject of a number of other research reports. Jefferies Financial Group cut shares of M&T Bank from a “buy” rating to a “hold” rating and dropped their price objective for the company from $185.00 to $167.00 in a report on Tuesday, October 8th. ValuEngine downgraded M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 18th. Wedbush dropped their price objective on shares of M&T Bank from $166.00 to $163.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. Citigroup increased their price target on shares of M&T Bank from $150.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Zacks Investment Research downgraded M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 price target on the stock. in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $170.85.

Shares of M&T Bank stock traded up $0.79 on Monday, hitting $163.41. The stock had a trading volume of 48,336 shares, compared to its average volume of 395,776. The stock has a 50 day moving average of $167.73 and a 200 day moving average of $160.69. M&T Bank has a twelve month low of $141.50 and a twelve month high of $176.11. The firm has a market capitalization of $21.98 billion, a P/E ratio of 12.71, a PEG ratio of 2.08 and a beta of 1.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 1.06.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $3.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.59 by ($0.12). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a net margin of 28.58% and a return on equity of 13.82%. During the same quarter in the previous year, the business earned $3.53 EPS. Equities analysts expect that M&T Bank will post 13.64 earnings per share for the current year.

In other M&T Bank news, CFO Darren J. King sold 3,968 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $162.59, for a total value of $645,157.12. Following the transaction, the chief financial officer now directly owns 42,295 shares of the company’s stock, valued at $6,876,744.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Richard S. Gold sold 4,093 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $169.43, for a total transaction of $693,476.99. Following the transaction, the chief operating officer now owns 38,936 shares of the company’s stock, valued at approximately $6,596,926.48. The disclosure for this sale can be found here. Insiders have sold 23,816 shares of company stock valued at $3,977,597 in the last ninety days. Company insiders own 0.54% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen Asset Management LLC increased its position in shares of M&T Bank by 54,440.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,993,989 shares of the financial services provider’s stock worth $339,118,000 after purchasing an additional 1,990,333 shares during the last quarter. USS Investment Management Ltd boosted its holdings in M&T Bank by 1,053.7% in the third quarter. USS Investment Management Ltd now owns 736,052 shares of the financial services provider’s stock valued at $116,278,000 after acquiring an additional 672,252 shares during the last quarter. Renaissance Technologies LLC grew its position in M&T Bank by 438.3% during the second quarter. Renaissance Technologies LLC now owns 215,542 shares of the financial services provider’s stock valued at $36,657,000 after acquiring an additional 175,500 shares during the period. Squarepoint Ops LLC increased its stake in M&T Bank by 2,322.6% during the third quarter. Squarepoint Ops LLC now owns 111,440 shares of the financial services provider’s stock worth $17,604,000 after acquiring an additional 106,840 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in M&T Bank during the third quarter worth about $16,555,000. 81.71% of the stock is currently owned by hedge funds and other 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.

Featured Article: How does a security become overbought?

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

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.