M&T Bank Corporation (NYSE:MTB)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group LLC in a report issued on Monday, May 15th, StockTargetPrices.com reports. They presently have a $174.00 price target on the bank’s stock. Jefferies Group LLC’s target price points to a potential upside of 7.63% from the stock’s current price.
Several other analysts have also recently issued reports on MTB. FBR & Co upped their price target on shares of M&T Bank Corporation from $160.00 to $165.00 and gave the company a “market perform” rating in a report on Friday, January 20th. Zacks Investment Research raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a report on Tuesday, January 24th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $152.00 price target on shares of M&T Bank Corporation in a report on Thursday, March 23rd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $168.00 price target on shares of M&T Bank Corporation in a report on Tuesday, April 4th. Finally, Piper Jaffray Companies cut their price target on shares of M&T Bank Corporation from $157.00 to $153.00 and set a “neutral” rating on the stock in a report on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $154.27.
Shares of M&T Bank Corporation (NYSE:MTB) traded up 0.10% on Monday, hitting $161.67. 860,705 shares of the company were exchanged. The stock has a market capitalization of $24.88 billion, a PE ratio of 19.79 and a beta of 0.76. M&T Bank Corporation has a 52-week low of $108.04 and a 52-week high of $173.72. The firm’s 50-day moving average is $159.17 and its 200-day moving average is $158.50.
M&T Bank Corporation (NYSE:MTB) last posted its earnings results on Monday, April 17th. The bank reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.18. M&T Bank Corporation had a net margin of 23.62% and a return on equity of 9.22%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company posted $1.87 earnings per share. Equities research analysts predict that M&T Bank Corporation will post $9.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 1st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Tuesday, May 30th. M&T Bank Corporation’s payout ratio is 36.67%.
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In other M&T Bank Corporation news, insider Richard S. Gold sold 6,904 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the completion of the sale, the insider now directly owns 39,326 shares of the company’s stock, valued at $6,398,733.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian E. Hickey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total transaction of $324,040.00. Following the sale, the insider now directly owns 12,169 shares of the company’s stock, valued at $1,971,621.38. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of M&T Bank Corporation during the first quarter worth $101,000. WFG Advisors LP increased its position in shares of M&T Bank Corporation by 39,277.8% in the fourth quarter. WFG Advisors LP now owns 3,544 shares of the bank’s stock worth $107,000 after buying an additional 3,535 shares in the last quarter. TLP Group LLC acquired a new position in shares of M&T Bank Corporation during the third quarter worth $127,000. Mosaic Family Wealth LLC increased its position in shares of M&T Bank Corporation by 12.5% in the third quarter. Mosaic Family Wealth LLC now owns 1,130 shares of the bank’s stock worth $131,000 after buying an additional 126 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in shares of M&T Bank Corporation during the third quarter worth $150,000. Institutional investors own 79.96% of the company’s stock.
M&T Bank Corporation Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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