Wolfe Research has recently raised M&t Bank Corp (MTB) stock to Outperform rating, as announced on October 4, 2024, according to Finviz. Earlier, on October 2, 2024, Evercore ISI had raised the stock rating, setting a price target of $210 for MTB stock. JP Morgan also raised Overweight rating with a price target of $215. Additionally, Wells Fargo reduced Underweight rating on August 15, 2024, with a target price of $165. Deutsche Bank analysts, in their report published on December 18, 2023, also reduced Hold 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 Tuesday, M&t Bank Corp (MTB) stock saw a modest uptick, ending the day at $194.07 which represents a slight increase of $0.44 or 0.23% from the prior close of $193.63. The stock opened at $194.36 and touched a low of $192.72 during the day, reaching a high of $195.56. The volume of shares traded was 1.09 million exceeding the average volume of 1.04 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 4.41% over the last five trades and 9.26% 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 32.15%, and it has gained 13.04% in the previous three months. Currently, MTB is trading at 6.57%, 11.51%, and 26.59% 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 -3.42% below its 52-week high but remains 78.82% above its 52-week low. The Average True Range (ATR) (14 days) of 4.44 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 23.53% and a profit margin of 17.31%, with a gross margin of 32.15%. 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 $32.41 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 14.36, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 11.94. Additionally, the Price-to-Sales Ratio is 2.43, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.22, 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 0.52% of M&t Bank Corp (MTB)’s shares, while financial institutions hold 86.03%.
Notable insider trades include SALAMONE DENIS J, Director at M&t Bank Corp (MTB), who sold 10000 shares on Sep 03 ’24, at $172.03 each, totaling $1.72 million. On Aug 22 ’24, WALTERS KIRK W, Director, sold 10441 shares for $24.63 each, amounting to $0.26 million. Additionally, on Aug 20 ’24, WALTERS KIRK W sold 5097 shares at $24.6 each, generating $0.13 million.
