M&T Bank’s (MTB) “Buy” Rating Reiterated at Vining Sparks

Vining Sparks restated their buy rating on shares of M&T Bank (NYSE:MTB) in a report released on Monday. The firm currently has a $200.00 target price on the financial services provider’s stock.

MTB has been the subject of several other reports. Nomura upped their price objective on M&T Bank from $145.00 to $162.00 and gave the stock a neutral rating in a research note on Monday, October 23rd. Robert W. Baird reaffirmed a sell rating and issued a $130.00 target price on shares of M&T Bank in a report on Friday, October 6th. Instinet reaffirmed a neutral rating and issued a $145.00 target price (up previously from $144.00) on shares of M&T Bank in a report on Saturday, September 30th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $167.00 target price on shares of M&T Bank in a report on Friday, September 22nd. Finally, Zacks Investment Research downgraded shares of M&T Bank from a buy rating to a hold rating in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. M&T Bank currently has a consensus rating of Hold and a consensus target price of $170.78.

M&T Bank (MTB) traded up $1.24 during trading hours on Monday, hitting $177.99. The stock had a trading volume of 342,002 shares, compared to its average volume of 494,938. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $26,790.00, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84. M&T Bank has a 52-week low of $141.12 and a 52-week high of $178.42.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. During the same quarter last year, the company earned $2.10 earnings per share. research analysts anticipate that M&T Bank will post 9.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Thursday, November 30th. M&T Bank’s dividend payout ratio (DPR) is presently 34.56%.

In other M&T Bank news, VP Michele D. Trolli sold 9,730 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the completion of the transaction, the vice president now owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the transaction, the director now directly owns 52,049 shares of the company’s stock, valued at approximately $8,910,268.31. The disclosure for this sale can be found here. In the last three months, insiders have acquired 156,000 shares of company stock valued at $12,650 and have sold 32,128 shares valued at $5,474,208. 3.18% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BB&T Corp boosted its holdings in shares of M&T Bank by 7.2% during the 3rd quarter. BB&T Corp now owns 29,244 shares of the financial services provider’s stock valued at $4,710,000 after purchasing an additional 1,952 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of M&T Bank by 9.4% during the 3rd quarter. Toronto Dominion Bank now owns 57,543 shares of the financial services provider’s stock valued at $9,266,000 after purchasing an additional 4,958 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of M&T Bank by 5.6% during the 3rd quarter. California Public Employees Retirement System now owns 418,997 shares of the financial services provider’s stock valued at $67,475,000 after purchasing an additional 22,223 shares during the last quarter. Huntington National Bank boosted its holdings in shares of M&T Bank by 3.3% during the 3rd quarter. Huntington National Bank now owns 97,191 shares of the financial services provider’s stock valued at $15,652,000 after purchasing an additional 3,098 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in shares of M&T Bank by 266.9% during the 3rd quarter. Achmea Investment Management B.V. now owns 12,719 shares of the financial services provider’s stock valued at $2,046,000 after purchasing an additional 9,252 shares during the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

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About M&T Bank

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.

Analyst Recommendations for M&T Bank (NYSE:MTB)

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