Wells Fargo Issues Underweight Rating for M&t Bank Corp (MTB) Stock – BOVNews (2024)

• Melanie Gerald
• August 24, 2024
• Industry

Wells Fargo has recently reduced M&t Bank Corp (MTB) stock to Underweight rating, as announced on August 15, 2024, according to Finviz. Earlier, on December 18, 2023, Deutsche Bank had reduced the stock from a Buy to Hold, setting a price target of $145. Odeon also reduced Hold rating with a price target of $$133.65. Additionally, Argus raised Buy rating on April 18, 2023, with a target price of $150. UBS analysts, in their report published on April 10, 2023, also reduced Neutral rating for M&t Bank Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.

M&t Bank Corp (MTB) Stock Trading Recap

On Friday, M&t Bank Corp (MTB) stock saw a modest uptick, ending the day at $168.68 which represents a slight increase of $4.05 or 2.46% from the prior close of $164.63. The stock opened at $165.84 and touched a low of $165.47 during the day, reaching a high of $170.88. The volume of shares traded was 0.89 million exceeding the average volume of 0.89 million.

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MTB Stock Performance and Moving Averages

In recent trading, M&t Bank Corp (MTB) stock price has shown some volatility, fluctuating 3.43% over the last five trades and -2.78% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 22.14%, and it has gained 12.82% in the previous three months. Currently, MTB is trading at 2.67%, 6.63%, and 17.34% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.

As of the latest trading close, MTB, a Financial sector stock, is trading -4.40% below its 52-week high but remains 55.42% above its 52-week low. The Average True Range (ATR) (14 days) of 3.69 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.

M&t Bank Corp’s Profitability and Valuation Ratios

M&t Bank Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 23.59% and a profit margin of 17.17%, with a gross margin of 22.14%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.

In terms of valuation, M&t Bank Corp’s market capitalization stands at $28.17 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 12.51, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 10.48. Additionally, the Price-to-Sales Ratio is 2.15, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.1, comparing the market value to the company’s book value.

Understanding Insider Trading

Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.67% of M&t Bank Corp (MTB)’s shares, while financial institutions hold 88.12%.

Notable insider trades include WALTERS KIRK W, Director at M&t Bank Corp (MTB), who sold 10441 shares on Aug 22 ’24, at $24.63 each, totaling $0.26 million. On Aug 20 ’24, WALTERS KIRK W, Director, sold 5097 shares for $24.6 each, amounting to $0.13 million. Additionally, on Aug 14 ’24, WALTERS KIRK W sold 14847 shares at $24.61 each, generating $0.37 million.

• Tags, MTB, MTB stock

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