Citigroup lowered shares of M&T Bank (NYSE:MTB) from a neutral rating to a sell rating in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has $163.00 price target on the financial services provider’s stock, down from their prior price target of $172.00.

Several other research analysts have also weighed in on the stock. Wedbush upped their target price on shares of Wintrust Financial from $79.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. Zacks Investment Research lowered shares of First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the stock a hold rating in a research report on Wednesday, April 17th. UBS Group upped their target price on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of Gilead Sciences in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. M&T Bank has an average rating of Hold and a consensus target price of $176.67.

Shares of MTB opened at $172.33 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average is $167.98. M&T Bank has a twelve month low of $133.78 and a twelve month high of $180.77. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.84 and a beta of 1.06.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the business posted $2.23 earnings per share. Sell-side analysts predict that M&T Bank will post 14.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a $1.00 dividend. The ex-dividend date was Friday, May 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.32%. M&T Bank’s dividend payout ratio is presently 31.10%.

In other news, insider Brian E. Hickey sold 4,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $168.53, for a total value of $674,120.00. Following the sale, the insider now directly owns 17,819 shares in the company, valued at $3,003,036.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Farrell II sold 1,476 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $169.43, for a total transaction of $250,078.68. Following the completion of the sale, the insider now owns 13,844 shares in the company, valued at $2,345,588.92. The disclosure for this sale can be found here. Insiders sold 9,521 shares of company stock worth $1,594,509 over the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in M&T Bank by 12.5% during the 1st quarter. FMR LLC now owns 6,691,210 shares of the financial services provider’s stock valued at $1,050,653,000 after purchasing an additional 744,208 shares in the last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock valued at $287,704,000 after purchasing an additional 95,142 shares in the last quarter. Northern Trust Corp grew its holdings in M&T Bank by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,518,223 shares of the financial services provider’s stock valued at $238,392,000 after purchasing an additional 17,586 shares in the last quarter. Norges Bank acquired a new stake in M&T Bank during the 4th quarter valued at $174,207,000. Finally, PNC Financial Services Group Inc. grew its holdings in M&T Bank by 404.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 841,781 shares of the financial services provider’s stock valued at $132,174,000 after purchasing an additional 674,968 shares in the last quarter. 81.52% 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.

Recommended Story: Investing strategies using the yield curve

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.