Latest news for M&T Bank (NYSE:MTB) Stock

M&T Bank

M&T Bank is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey. The bank was founded to serve manufacturing and trading businesses around the Erie Canal and is primarily focused on commercial real estate and commercial-related lending, with some retail operations also present.

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Fed&#39;s rate cut boosts banking sector, JPMorgan analyst predicts NIM and loan demand growth, offers investment opportunities in large, mid, and small-cap banks

Bank Stocks Hit Inflection Point After Fed&#39;s 50 Basis Point Cut, Analyst Reveals Top Picks

M&T Bank (MTB)

M&amp;T Bank is poised to benefit from the Fed&#39;s rate cuts. JPMorgan analyst upgrades the rating and price target. 

M&amp;T Bank To Outperform Peers, Analyst Says: &#39;Overhang Fears Could Erode Over Next Several Quarters&#39;

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M&T Bank Corporation Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H

M&T Bank Corporation Depositary Shares each representing a 1/400th ownership interest in a share of Perpetual 7.500% Non-Cumulative Preferred Stock, Series J

The Federal Reserve's decision to reduce interest rates by 50 basis points on Wednesday has set the stage for a notable shift, particularly in the banking sector among <a href="https://www.benzinga.com/trading-ideas/small-cap-analysis">mid- and small-cap banks</a>.
With rates expected to drop further over the next two years, JPMorgan analyst Steven Alexopoulos believes this marks a crucial inflection point. This and further cuts should help boost banks' net interest margins (NIMs) while reigniting commercial loan demand. The steepening yield curve and easing credit concerns will help banks recalibrate deposit costs, improving performance across various segments.
Let's break down the investment opportunities among large-cap, mid-cap, and small-cap banks, as outlined by Alexopoulos.
<h2 class="wp-block-heading">Large-Cap Banks: Poised For Growth</h2>
<h4 class="wp-block-heading">First Citizens BancShares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>)</h4>
First Citizens stands out with its SVB segment likely to benefit from the Fed's cuts. With lower rates, the company expects a resurgence in venture capital (VC) investment and IPO activity. This should bolster its sizable SVB loans and deposits. Trading at a discount to peers, this stock offers a compelling value. Alexopoulos also sees potential for significant multiple expansion as the market re-rates it.
<h4 class="wp-block-heading">Huntington Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>)</h4>
Huntington positions itself to take advantage of improving commercial and industrial (C&amp;I) loan demand by aggressively hiring bankers in growth markets like the Carolinas and Texas. As the Fed eases, the bank anticipates accelerated earnings, strong loan growth, and a solidified position in the sector.
<h4 class="wp-block-heading">M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</h4>
As the Fed eases, M&amp;T's criticized loans should see an improvement in credit quality, particularly in the commercial real estate (CRE) sector. This will likely reduce the bank's need for high reserve levels and allow for increased buybacks. The analyst says that trading below its historical valuation, M&amp;T offers an opportunity for re-rating as the economic outlook brightens.
Don't miss out on this unparalleled opportunity:
<ul>
<li><a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Register now to secure your spot at Benzinga's Largest SmallCap Conference ever in Chicago!</a></li>
</ul>
<h2 class="wp-block-heading">Mid-Cap Banks: Reaping The Benefits Of Lower Rates</h2>
<h4 class="wp-block-heading">Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</h4>
Western Alliance will benefit from the lower rate environment, seizing opportunities to reduce deposit costs and ease credit concerns. According to Alexopoulos, its exposure to the startup economy and capital call lending positions it well to take advantage of a potential resurgence in venture capital and IPO markets, making it a standout mid-cap pick.
<h4 class="wp-block-heading">Pinnacle Financial Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</h4>
Pinnacle plans to lower its high deposit rates, boosting net interest income (NII). The analyst says Pinnacle operates in high-growth markets in the Southeast and sports above-peer loan growth. This, combined with easing concerns around credit quality, makes it an attractive investment as the Fed continues its rate cuts.
<h4 class="wp-block-heading">Cullen/Frost Bankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>)</h4>
Despite its asset-sensitive balance sheet, Cullen/Frost will benefit from the Fed's cuts by focusing on organic expansion in Texas's fastest-growing cities. The potential for improved loan demand, especially in commercial real estate, should drive outsized growth. Alexopoulos sees this as presenting a revaluation opportunity for the stock.
<h2 class="wp-block-heading">Small-Cap Banks: Ready For Resurgence</h2>
<h4 class="wp-block-heading">Live Oak Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NASDAQ">LOB</a>)</h4>
Live Oak, with most of its deposits in market-rate accounts, expects a significant reset in funding costs as rates decline. This niche growth bank plans to lead loan growth by capitalizing on improved borrower demand as borrowing cost uncertainty diminishes.
<h4 class="wp-block-heading">Metropolitan Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</h4>
Metropolitan stands to benefit from easing concerns around its CRE loans, with the Fed's cuts reducing fears about credit quality. The bank's unique focus on niche sectors and proactive credit management positions it well for an economic rebound.
<h4 class="wp-block-heading">Amalgamated Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAL#NASDAQ">AMAL</a>)</h4>
Amalgamated, a smaller player exposed to high credit risk profiles, will improve as rates decline. The bank's focus on social impact banking combined with a favorable rate environment should alleviate concerns around credit stress. Alexopoulos sees this as providing room for upside in its share price.
As the Fed signals further easing, banks across segments will capitalize on improving economic conditions, rising loan demand, and a recalibration of deposit costs. With the runway for a soft landing widened, now is a compelling time to consider these names for your portfolio.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40919822/small-cap-sectors-brace-for-fed-rate-cut-financials-real-estate-etfs-offer-compelling-plays-for-inve">Small-Cap Sectors Brace For Fed Rate Cut: Financials, Real Estate ETFs Offer Compelling Plays For Investors</a></li>
</ul>
Don't miss the opportunity to dominate in a volatile market at the&nbsp;<a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference on Oct. 9-10, 2024</a>,&nbsp;at the Chicago Marriott Downtown Magnificent Mile.
Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you're a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders.
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Bank Stocks Hit Inflection Point After Fed's 50 Basis Point Cut, Analyst Reveals Top Picks

M&amp;T Bank Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) is gearing up to report results in early October, after having reported <a href="https://www.benzinga.com/news/earnings/24/07/39865383/m-t-bank-analysts-boost-their-forecasts-following-upbeat-earnings">upbeat earnings for the second quarter</a>.
The U.S. Federal Reserve cutting its benchmark interest rates could be a catalyst for the company's credit metrics and drive stronger earnings growth, according to JPMorgan <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586e4054351b9b00018beea5/steven-alexopoulos">analyst Steven Alexopoulos</a>.
The M&amp;T Bank Thesis: Alexopoulos upgraded the rating for M&amp;T Bank from Neutral to Overweight, while raising the price target from $183 to $215.
While there are currently "several overhangs on the stock," a recent meeting with CFO Daryl Bible indicates that these fears could "erode considerably" over the next several quarters, triggering an outperformance of the bank's shares, Alexopoulos said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
The Fed lowering rates could be "a catalyst to drive improved credit metrics at MTB," the analyst stated. The lower rates could also be an "opportunity for the company to demonstrate NIM neutrality to the markets as it relates to short-term rate moves," he added.
"Once the company is able to demonstrate a stable NIM in the backdrop of reduced short-term rates while its credit metrics are concurrently improving, we believe this will quickly set the stage for bottom-line EPS expectations to improve (and potentially dramatically) as not only required provision expense declines but this also sets the stage for the company to announce a much larger buyback in 2025," Alexopoulos further wrote.
MTB Price Action: Shares of M&amp;T Bank had risen by 0.16% to $171.04 at the time of publication on Tuesday.
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40689835/us-manufacturing-activity-extends-contraction-for-fifth-month-demand-continues-to">US Manufacturing Activity Extends Contraction For Fifth Month: &#8216;Demand Continues To Be Weak&#8217;</a></li>
</ul>
Image: Flickr

M&T Bank To Outperform Peers, Analyst Says: 'Overhang Fears Could Erode Over Next Several Quarters'

15 analysts have shared their evaluations of M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $181.47, with a high estimate of $220.00 and a low estimate of $161.00. Observing a 7.84% increase, the current average has risen from the previous average price target of $168.27. 
<img src="https://www.benzinga.com/files/images/story/2024/1725379231_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive M&amp;T Bank. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$215.00</td>
<td>$183.00</td>
</tr>
<tr>
<td>Mike Mayo</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$165.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$220.00</td>
<td>$195.00</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$183.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$188.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Frank Schiraldi</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$190.00</td>
<td>$164.00</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$195.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$174.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Peter Winter</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$185.00</td>
<td>$159.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$180.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$161.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$170.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$168.00</td>
<td>$157.00</td>
</tr>
<tr>
<td>Frank Schiraldi</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$164.00</td>
<td>$164.00</td>
</tr>
<tr>
<td>Frank Schiraldi</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$164.00</td>
<td>$152.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to M&amp;T Bank. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of M&amp;T Bank compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for M&amp;T Bank's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of M&amp;T Bank's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MTB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on M&amp;T Bank analyst ratings.</a>
<h2>Discovering M&amp;T Bank: A Closer Look</h2>
M&amp;T Bank is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey. The bank was founded to serve manufacturing and trading businesses around the Erie Canal and is primarily focused on commercial real estate and commercial-related lending, with some retail operations also present.
<h3>M&amp;T Bank: A Financial Overview</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Negative Revenue Trend: Examining M&amp;T Bank's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -11.53% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: M&amp;T Bank's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 27.19%, the company may face hurdles in effective cost management.
Return on Equity (ROE): M&amp;T Bank's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.46%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): M&amp;T Bank's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.3% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 0.62, caution is advised due to increased financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Decoding 15 Analyst Evaluations For M&T Bank

JP Morgan analyst Steven Alexopoulos upgrades M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) from Neutral to Overweight and raises the price target from $183 to $215.

Upgrades

Price Target

JP Morgan Upgrades M&T Bank to Overweight, Raises Price Target to $215

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$12.00</td>
<td>$349.6K</td>
<td>39.8K</td>
<td>4.6K</td>
</tr>
<tr>
<td>COF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$145.00</td>
<td>$78.7K</td>
<td>3.2K</td>
<td>3.0K</td>
</tr>
<tr>
<td>RILY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/13/24</td>
<td>$6.00</td>
<td>$35.0K</td>
<td>128</td>
<td>2.6K</td>
</tr>
<tr>
<td>HOOD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/30/24</td>
<td>$20.50</td>
<td>$36.5K</td>
<td>4.8K</td>
<td>1.4K</td>
</tr>
<tr>
<td>CRBG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$29.00</td>
<td>$67.5K</td>
<td>6.8K</td>
<td>500</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/30/24</td>
<td>$202.50</td>
<td>$42.0K</td>
<td>1.0K</td>
<td>349</td>
</tr>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$95.00</td>
<td>$27.0K</td>
<td>21.3K</td>
<td>209</td>
</tr>
<tr>
<td>MTB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$165.00</td>
<td>$66.8K</td>
<td>178</td>
<td>102</td>
</tr>
<tr>
<td>AXP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$155.00</td>
<td>$58.0K</td>
<td>0</td>
<td>5</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), we notice a call option trade that happens to be bearish, expiring in 137 day(s) on January 17, 2025. This event was a transfer of 999 contract(s) at a $12.00 strike. The total cost received by the writing party (or parties) was $349.6K, with a price of $350.0 per contract. There were 39838 open contracts at this strike prior to today, and today 4626 contract(s) were bought and sold. 
• Regarding COF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), we observe a call option sweep with bearish sentiment. It expires in 46 day(s) on October 18, 2024. Parties traded 125 contract(s) at a $145.00 strike. This particular call needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $78.7K, with a price of $630.0 per contract. There were 3232 open contracts at this strike prior to today, and today 3081 contract(s) were bought and sold. 
• Regarding RILY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>), we observe a put option sweep with bearish sentiment. It expires in 11 day(s) on September 13, 2024. Parties traded 200 contract(s) at a $6.00 strike. This particular put needed to be split into 27 different trades to become filled. The total cost received by the writing party (or parties) was $35.0K, with a price of $175.0 per contract. There were 128 open contracts at this strike prior to today, and today 2621 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a put option sweep with bearish sentiment. It expires in 3 day(s) on August 30, 2024. Parties traded 779 contract(s) at a $20.50 strike. This particular put needed to be split into 52 different trades to become filled. The total cost received by the writing party (or parties) was $36.5K, with a price of $47.0 per contract. There were 4899 open contracts at this strike prior to today, and today 1477 contract(s) were bought and sold. 
• For CRBG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>), we notice a call option sweep that happens to be bearish, expiring in 46 day(s) on October 18, 2024. This event was a transfer of 500 contract(s) at a $29.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $67.5K, with a price of $135.0 per contract. There were 6841 open contracts at this strike prior to today, and today 500 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a put option trade that happens to be bullish, expiring in 3 day(s) on August 30, 2024. This event was a transfer of 20 contract(s) at a $202.50 strike. The total cost received by the writing party (or parties) was $42.0K, with a price of $2100.0 per contract. There were 1006 open contracts at this strike prior to today, and today 349 contract(s) were bought and sold. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option trade with bearish sentiment. It expires in 501 day(s) on January 16, 2026. Parties traded 41 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $27.0K, with a price of $660.0 per contract. There were 21324 open contracts at this strike prior to today, and today 209 contract(s) were bought and sold. 
• For MTB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), we notice a call option sweep that happens to be bullish, expiring in 18 day(s) on September 20, 2024. This event was a transfer of 88 contract(s) at a $165.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $66.8K, with a price of $760.0 per contract. There were 178 open contracts at this strike prior to today, and today 102 contract(s) were bought and sold. 
• For AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we notice a call option trade that happens to be bullish, expiring in 837 day(s) on December 18, 2026. This event was a transfer of 5 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $58.0K, with a price of $11600.0 per contract. There were 0 open contracts at this strike prior to today, and today 5 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

COIN

CRBG

HOOD

PYPL

RILY

9 Financials Stocks Whale Activity In Today's Session

The Nasdaq 100 closed lower by over 0.2% during Tuesday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Electronic Arts</h3>
<ul>
<li>The Trade: Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) EVP &amp; Chief Financial Officer Stuart Canfield <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,260 shares </a> at an average price of $148.37. The insider received around $186,950 from selling those shares.</li>
<li>What's Happening: On July 30, Electronic Arts reported first-quarter net bookings of $1.26 billion, down from $1.58 billion in last year&#8217;s first quarter total of $1.58 billion, according to data from Benzinga Pro.</li>
<li>What Electronic Arts Does: EA is one of the world&#8217;s largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"> latest EA news.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="897" height="827" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050558/image-175.png" alt="" class="wp-image-505444" style="width:638px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050558/image-175.png 897w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050558/image-175-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050558/image-175-768x708.png 768w" sizes="(max-width: 897px) 100vw, 897px" /></a></figure>
<h3 class="wp-block-heading">M&amp;T Bank</h3>
<ul>
<li>The Trade: M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) Director Kirk W Walters <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 9,407 shares </a> at an average price of $24.60. The insider received around $231,412 from selling those shares.</li>
<li>What's Happening: On Aug. 15, Wells Fargo analyst Mike Mayo downgraded M&amp;T Bank from Equal-Weight to Underweight and lowered the price target from $170 to $165.</li>
<li>What M&amp;T Bank Does: M&amp;T Bank is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"> trend in MTB stock.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="912" height="842" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050656/image-176.png" alt="" class="wp-image-505448" style="width:623px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050656/image-176.png 912w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050656/image-176-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050656/image-176-768x709.png 768w" sizes="(max-width: 912px) 100vw, 912px" /></a></figure>
<h3 class="wp-block-heading">Xcel Energy</h3>
<ul>
<li>The Trade: Xcel Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) SVP, Strategy and External Aff Frank P Prager <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 2,041 shares</a> at an average price of $59.50. The insider received around $121,440 from selling those shares.</li>
<li>What's Happening: On Aug. 1, Xcel Energy posted downbeat quarterly results.</li>
<li>What Xcel Energy Does: Xcel Energy manages utilities serving 3.8 million electric customers and 2.2 million natural gas customers in eight states. </li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">breakout in XEL shares.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="885" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050820/image-177.png" alt="" class="wp-image-505450" style="width:662px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050820/image-177.png 885w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050820/image-177-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050820/image-177-768x726.png 768w" sizes="(max-width: 885px) 100vw, 885px" /></a></figure>
<h3 class="wp-block-heading">Home Depot</h3>
<ul>
<li>The Trade: The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) SVP-Finance, CAO &amp; Controller Kimberly R Scardino <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 1,700 shares</a> at an average price of $363.00. The insider received around $617,100 from selling those shares.</li>
<li>What's Happening: On Aug. 13, HD reported second-quarter 2024 sales growth of 0.6% year-over-year to $43.175 billion, marginally missing the consensus estimate of $43.376 billion.</li>
<li>What Home Depot Does: Home Depot is the world&#8217;s largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the US, Canada, and Mexico.</li>
<li>Benzinga Pro&#8217;s earnings calendar was used to track upcoming H<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1">D&#8217;s earnings reports</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082124&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="872" height="822" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050939/image-178.png" alt="" class="wp-image-505453" style="width:607px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050939/image-178.png 872w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050939/image-178-300x283.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21050939/image-178-768x724.png 768w" sizes="(max-width: 872px) 100vw, 872px" /></a></figure>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40461302/top-3-tech-stocks-which-could-rescue-your-portfolio-this-quarter">Top 3 Tech Stocks Which Could Rescue Your Portfolio This Quarter</a></li>
</ul>

Across the recent three months, 15 analysts have shared their insights on M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), expressing a variety of opinions spanning from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $177.8, with a high estimate of $220.00 and a low estimate of $160.00. Marking an increase of 7.02%, the current average surpasses the previous average price target of $166.13. 
<img src="https://www.benzinga.com/files/images/story/2024/1723741260_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of M&amp;T Bank among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mike Mayo</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$165.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$220.00</td>
<td>$195.00</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$183.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$188.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Frank Schiraldi</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$190.00</td>
<td>$164.00</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$195.00</td>
<td>$180.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$174.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>Peter Winter</td>
<td>DA Davidson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$185.00</td>
<td>$159.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$180.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$161.00</td>
<td>$160.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$170.00</td>
<td>$170.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$168.00</td>
<td>$157.00</td>
</tr>
<tr>
<td>Frank Schiraldi</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$164.00</td>
<td>$164.00</td>
</tr>
<tr>
<td>Frank Schiraldi</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$164.00</td>
<td>$152.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$160.00</td>
<td>$151.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to M&amp;T Bank. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of M&amp;T Bank compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for M&amp;T Bank's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into M&amp;T Bank's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/MTB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on M&amp;T Bank analyst ratings.</a>
<h2>Discovering M&amp;T Bank: A Closer Look</h2>
M&amp;T Bank is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey. The bank was founded to serve manufacturing and trading businesses around the Erie Canal and is primarily focused on commercial real estate and commercial-related lending, with some retail operations also present.
<h3>M&amp;T Bank: Financial Performance Dissected</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Negative Revenue Trend: Examining M&amp;T Bank's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -11.53% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: M&amp;T Bank's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 27.19%, the company may face hurdles in effective cost management.
Return on Equity (ROE): M&amp;T Bank's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 2.46%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): M&amp;T Bank's ROA stands out, surpassing industry averages. With an impressive ROA of 0.3%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: M&amp;T Bank's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.62, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>What Are Analyst Ratings?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where M&T Bank Stands With Analysts

Wells Fargo analyst Mike Mayo downgrades M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) from Equal-Weight to Underweight and lowers the price target from $170 to $165.

Downgrades

Wells Fargo Downgrades M&T Bank to Underweight, Lowers Price Target to $165

The Nasdaq 100 closed higher by around 2.5% during Tuesday's session. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Wynn Resorts</h3>
<ul>
<li>The Trade: Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) Director Margaret Jane Myers &lt;a href=&#8221;https://www.benzinga.com/sec/insider-trades/&#8221;&gt;&lt;em&gt; sold a total of 2,000 shares &lt;/em&gt;&lt;/a&gt; at an average price of $98.05. The insider received around $196,100 from selling those shares.</li>
<li>What's Happening: On Aug. 6, Wynn Resorts reported quarterly earnings of $1.12 per share on revenue of $1.733 billion with both figures missing the analyst consensus estimates.</li>
<li>What Wynn Resorts Does: Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO.</li>
</ul>
<h3 class="wp-block-heading">Box</h3>
<ul>
<li>The Trade: Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) CFO Dylan C Smith <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 13,000 shares</a> at an average price of $27.05. The insider received around $351,676 from selling those shares.</li>
<li>What's Happening: On July 31, Box and Slack expanded partnership with the launch of Box AI in Slack.</li>
<li>What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.</li>
</ul>
<h3 class="wp-block-heading">M&amp;T Bank</h3>
<ul>
<li>The Trade: M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) Sr. Executive Vice President Michael J. Todaro <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 4,791 shares</a> at an average price of $162.57. The insider received around $778,897 from selling those shares.</li>
<li>What's Happening: On July 18, M&amp;T Bank reported better-than-expected second-quarter financial results.</li>
<li>What M&amp;T Bank Does: M&amp;T Bank is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey.</li>
</ul>
<h3 class="wp-block-heading">Mosaic</h3>
<ul>
<li>The Trade: The Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>) Director Kelvin R Westbrook <a href="https://www.benzinga.com/sec/insider-trades/">sold a total of 12,666 shares</a> at an average price of $27.32. The insider received around $346,042 from selling those shares.</li>
<li>What's Happening: On Aug. 6, Mosaic posted downbeat quarterly earnings.</li>
<li>What Mosaic Does: Formed in 2004 by the combination of IMC Global and Cargill&#8217;s fertilizer business, Mosaic is one of the largest phosphate and potash producers in the world.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40357992/brinker-international-cisco-and-3-stocks-to-watch-heading-into-wednesday">Brinker International, Cisco And 3 Stocks To Watch Heading Into Wednesday</a></li>
</ul>

Pre-Market Outlook

WYNN

Box, Wynn Resorts And 2 Other Stocks Insiders Are Selling

Morgan Stanley analyst Manan Gosalia maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Overweight and raises the price target from $195 to $220.

Morgan Stanley Maintains Overweight on M&T Bank, Raises Price Target to $220

WIIM

BBAR

CADE

EWBC

FITB

HMNF

HSBC

MUFG

VBFC

Shares of banking companies are trading lower amid overall market weakness following weak US jobs data.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>08/02/24</td>
<td>$64.00</td>
<td>$64.2K</td>
<td>11.4K</td>
<td>4.8K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$65.00</td>
<td>$59.9K</td>
<td>1.2K</td>
<td>988</td>
</tr>
<tr>
<td>MA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$480.00</td>
<td>$30.1K</td>
<td>715</td>
<td>684</td>
</tr>
<tr>
<td>ICE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$170.00</td>
<td>$44.0K</td>
<td>19</td>
<td>367</td>
</tr>
<tr>
<td>TOST</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$30.00</td>
<td>$41.1K</td>
<td>3.6K</td>
<td>234</td>
</tr>
<tr>
<td>TRUP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$32.50</td>
<td>$35.2K</td>
<td>841</td>
<td>128</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$60.00</td>
<td>$25.4K</td>
<td>1.4K</td>
<td>125</td>
</tr>
<tr>
<td>MS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$105.00</td>
<td>$39.5K</td>
<td>811</td>
<td>124</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/02/24</td>
<td>$260.00</td>
<td>$26.7K</td>
<td>1.4K</td>
<td>87</td>
</tr>
<tr>
<td>MTB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$220.00</td>
<td>$30.0K</td>
<td>2</td>
<td>60</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we notice a call option sweep that happens to be neutral, expiring in 2 day(s) on August 2, 2024. This event was a transfer of 261 contract(s) at a $64.00 strike. This particular call needed to be split into 107 different trades to become filled. The total cost received by the writing party (or parties) was $64.2K, with a price of $246.0 per contract. There were 11490 open contracts at this strike prior to today, and today 4888 contract(s) were bought and sold. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a put option sweep that happens to be bearish, expiring in 79 day(s) on October 18, 2024. This event was a transfer of 100 contract(s) at a $65.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $59.9K, with a price of $600.0 per contract. There were 1262 open contracts at this strike prior to today, and today 988 contract(s) were bought and sold. 
• Regarding MA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), we observe a call option trade with bearish sentiment. It expires in 51 day(s) on September 20, 2024. Parties traded 49 contract(s) at a $480.00 strike. The total cost received by the writing party (or parties) was $30.1K, with a price of $615.0 per contract. There were 715 open contracts at this strike prior to today, and today 684 contract(s) were bought and sold. 
• Regarding ICE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), we observe a call option sweep with bearish sentiment. It expires in 107 day(s) on November 15, 2024. Parties traded 367 contract(s) at a $170.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $44.0K, with a price of $120.0 per contract. There were 19 open contracts at this strike prior to today, and today 367 contract(s) were bought and sold. 
• Regarding TOST (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>), we observe a call option sweep with bearish sentiment. It expires in 534 day(s) on January 16, 2026. Parties traded 71 contract(s) at a $30.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $41.1K, with a price of $580.0 per contract. There were 3624 open contracts at this strike prior to today, and today 234 contract(s) were bought and sold. 
• For TRUP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUP#NASDAQ">TRUP</a>), we notice a call option sweep that happens to be bullish, expiring in 16 day(s) on August 16, 2024. This event was a transfer of 63 contract(s) at a $32.50 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $35.2K, with a price of $560.0 per contract. There were 841 open contracts at this strike prior to today, and today 128 contract(s) were bought and sold. 
• For SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we notice a call option sweep that happens to be bearish, expiring in 51 day(s) on September 20, 2024. This event was a transfer of 38 contract(s) at a $60.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $25.4K, with a price of $671.0 per contract. There were 1415 open contracts at this strike prior to today, and today 125 contract(s) were bought and sold. 
• Regarding MS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), we observe a put option sweep with bullish sentiment. It expires in 107 day(s) on November 15, 2024. Parties traded 67 contract(s) at a $105.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $39.5K, with a price of $590.0 per contract. There were 811 open contracts at this strike prior to today, and today 124 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a put option sweep with bearish sentiment. It expires in 2 day(s) on August 2, 2024. Parties traded 9 contract(s) at a $260.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $26.7K, with a price of $2975.0 per contract. There were 1437 open contracts at this strike prior to today, and today 87 contract(s) were bought and sold. 
• For MTB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), we notice a call option sweep that happens to be bullish, expiring in 324 day(s) on June 20, 2025. This event was a transfer of 60 contract(s) at a $220.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $30.0K, with a price of $500.0 per contract. There were 2 open contracts at this strike prior to today, and today 60 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

TOST

TRUP

10 Financials Stocks Whale Activity In Today's Session

JP Morgan analyst Steven Alexopoulos maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Neutral and raises the price target from $180 to $183.

JP Morgan Maintains Neutral on M&T Bank, Raises Price Target to $183

B of A Securities analyst Ebrahim Poonawala maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Buy and raises the price target from $160 to $188.

B of A Securities Maintains Buy on M&T Bank, Raises Price Target to $188

Piper Sandler analyst Frank Schiraldi maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Overweight and raises the price target from $164 to $190.

Piper Sandler Maintains Overweight on M&T Bank, Raises Price Target to $190

Citigroup analyst Keith Horowitz maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Buy and raises the price target from $180 to $195.

Citigroup Maintains Buy on M&T Bank, Raises Price Target to $195

M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) reported better-than-expected second-quarter <a href="https://www.benzinga.com/quote/MTB/earnings">financial results on Thursday</a>.
M&amp;T Bank reported quarterly earnings of $3.79 per share which beat the analyst consensus estimate of $3.50 per share. Quarterly sales came in at $2.302 billion topping expectations of $2.277 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
&#8220;Building on a strong start to the year, the second quarter results reflect a 24% increase in diluted earnings per common share from the first quarter. We continued to grow our commercial and industrial and consumer loan portfolios, while lessening our commercial real estate exposure. Credit metrics improved as both nonaccrual and total criticized loans declined sequentially. Liquidity and capital positions are exceptional, and we are pleased with the reduction in our stress capital buffer that becomes effective later this year. Our team continues to diligently deploy resources while controlling expense growth. We are grateful for our employees&#8217; commitment to our customers and communities which was again on full display in the first half of 2024 through various community events and volunteer engagements throughout our footprint,&#8221; Daryl N. Bible, M&amp;T&#8217;s Chief Financial Officer said.
M&amp;T Bank shares fell 0.5% to trade at $166.51 on Friday.
These analysts made changes to their price targets on M&amp;T Bank following the announcement.
<ul>
<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained M&amp;T Bank with a Market Perform rating, while increasing the price target from $170 to $180.</li>
<li>DA Davidson analyst Peter Winter maintained the stock with a Neutral rating and boosted the price target from $159 to $185.</li>
<li>RBC Capital analyst Gerard Cassidy maintained M&amp;T Bank with an Outperform rating and raised the price target from $160 to $174.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39859847/netflix-to-rally-more-than-10-here-are-10-top-analyst-forecasts-for-friday">Netflix To Rally More Than 10%? Here Are 10 Top Analyst Forecasts For Friday</a></li>
</ul>

Earnings

M&T Bank Analysts Boost Their Forecasts Following Upbeat Earnings

In a recent analyst note by Goldman Sachs, the outlook for several regional banks were evaluated based on their recent <a href="https://www.benzinga.com/topic/banks">second-quarter 2024 earnings reports</a>. Among the banks examined included KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), M&amp;T Bank Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), Regions Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>), Truist Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) and Zions Bancorporation NA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>).
Lead analyst Ryan Nash and team highlighted key metrics, growth projections and credit performances, offering a comprehensive analysis of each bank&#8217;s standing and market outlook.
<h3 class="wp-block-heading">KeyCorp</h3>
KeyCorp&#8217;s second-quarter 2024 EPS results were mixed. The bank saw a slight beat on fees and managed lower expenses, which offset a softer Net Interest Income (NII). Credit performance was largely in line with expectations. The focus shifted to the updated FY 2024 guidance, where most items such as fees, expenses and Net Charge Offs (NCOs) were reiterated. 
However, the bank lowered its loan growth expectations while increasing deposit growth projections. On the earnings call, KEY indicated that NII would likely hit the low end of its range based on the forward curve and noted that loan growth has yet to see an inflection.
Goldman Sachs&#8217; note points out that KeyCorp&#8217;s earnings were impacted by a challenging economic environment and competitive pressures.
<h3 class="wp-block-heading">M&amp;T Bank</h3>
M&amp;T Bank reported better-than-expected second-quarter 2024 results, with NII, fees, and expenses all surpassing the mid-June update. Credit metrics improved, with non-performing loans (NPLs) and criticized assets declining after three consecutive quarters of increase. 
The bank updated its NII guidance, projecting $6.85-$6.9 billion, which was viewed as conservative due to limited growth expected in the second half of 2024.
Goldman Sachs highlighted M&amp;T&#8217;s effective integration of recent acquisitions, which contributed to improved operating leverage.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/07/39857569/american-express-q2-earnings-ceo-raises-annual-profit-and-marketing-spend-outlook-after-q2-profit-b">American Express Q2 Earnings: CEO Raises Annual Profit And Marketing Spend Outlook After Q2 Profit Beat</a>
<h2 class="wp-block-heading">Regions Financial</h2>
Regions Financial reported solid earnings, underpinned by steady loan and deposit growth. Goldman Sachs noted that the bank&#8217;s focus on expanding its commercial banking segment paid off, as commercial loans showed significant growth. 
Regions Financial also benefited from improved efficiency ratios due to ongoing digital transformation initiatives. However, the bank faced some headwinds from higher provisions for credit losses, reflecting a cautious stance on future economic uncertainties .
<h2 class="wp-block-heading">Truist Financial</h2>
Truist Financial&#8217;s performance in second-quarter 2024 was marked by successful cost-saving measures and revenue synergies from its merger. Goldman Sachs emphasized Truist&#8217;s enhanced scale and scope, which have strengthened its competitive position. 
The bank&#8217;s NIM remained relatively stable, and its fee income saw a boost from increased transaction volumes. Truist&#8217;s credit metrics also showed improvement, with a decline in non-performing assets and delinquency rates .
<h2 class="wp-block-heading">US Bancorp </h2>
US Bancorp posted strong quarterly results, driven by robust consumer and commercial lending activities. Goldman Sachs highlighted the bank&#8217;s superior efficiency ratio, which is among the best in the industry. US Bancorp&#8217;s diversified business model, including a significant contribution from payment services, provided resilience against interest rate volatility. 
The bank&#8217;s credit quality metrics remained solid, with a decrease in net charge-offs and stable non-performing asset levels .
<h2 class="wp-block-heading">Zions Bancorp</h2>
Zions Bancorp showed strong performance with notable improvements in its loan portfolio and asset quality. Goldman Sachs pointed out that Zions&#8217; focus on community banking and small to medium-sized business lending has paid off, resulting in robust loan growth. 
The bank&#8217;s credit quality remained high, with low levels of non-performing assets and charge-offs. Zions also benefited from strategic cost management initiatives, which helped improve its efficiency ratio.
Read Also: <a href="https://www.benzinga.com/24/07/39843691/goldman-sachs-morgan-stanley-and-bank-of-america-continued-the-strong-trend-with-their-second-quarte">Goldman Sachs, Morgan Stanley and Bank of America Continued The Strong Trend With Their Second Quarter Financials</a>
Note: The author of this article owns KEY Stock.

ZION

Regional Bank Performance: Goldman Sachs Breaks Down Q2 2024 Earnings

RBC Capital analyst Gerard Cassidy maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Outperform and raises the price target from $160 to $174.

RBC Capital Maintains Outperform on M&T Bank, Raises Price Target to $174

DA Davidson analyst Peter Winter maintains M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) with a Neutral and raises the price target from $159 to $185.

DA Davidson Maintains Neutral on M&T Bank, Raises Price Target to $185

Intercontinental Exchange: A Re-Rating Opportunity Is Still Ahead

M&T Bank ( ($MTB) ) has provided an update. M&T Bank Corporation has updated its investor presentation on its website, which may be utilized in dis...

M&T Bank Unveils Updated Investor Presentation Highlights

Fidelity Select Financials Portfolio Q2 2024 Review

Bank stocks extend decline as CPI data reduce chances of jumbo Fed rate cut

Wells Fargo analyst Mike Mayo maintained a Sell rating on M&T Bank (MTB – Research Report) today. The company's shares closed today at $165.89. Acc...

M&T Bank (MTB) Receives a Sell from Wells Fargo

In a report released today, Jason Goldberg from Barclays maintained a Hold rating on M&T Bank (MTB – Research Report), with a price target of $170....

Barclays Sticks to Their Hold Rating for M&T Bank (MTB)

Morgan Stanley announces its 15 'Vintage Values' names of 2025

Morgan Stanley announces its 15 'Vintage Values' names for 2025

Analyst Manan Gosalia of Morgan Stanley maintained a Buy rating on M&T Bank (MTB – Research Report), retaining the price target of $220.00. Manan G...

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