M&T Bank Co. (MTB) Receives $184.33 Average PT from Brokerages

Shares of M&T Bank Co. (NYSE:MTB) have been given a consensus rating of “Hold” by the eighteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $184.33.

A number of analysts have recently weighed in on the company. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Morgan Stanley raised their price target on M&T Bank from $190.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 18th. Wedbush raised their price target on M&T Bank from $190.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, July 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $207.00 price target on shares of M&T Bank in a research note on Tuesday, April 17th.

In other M&T Bank news, insider Robert J. Bojdak sold 1,570 shares of the firm’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $177.93, for a total transaction of $279,350.10. Following the completion of the transaction, the insider now owns 20,501 shares of the company’s stock, valued at $3,647,742.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MTB. Raymond James & Associates lifted its position in M&T Bank by 14.6% during the fourth quarter. Raymond James & Associates now owns 14,320 shares of the financial services provider’s stock valued at $2,449,000 after buying an additional 1,823 shares during the period. Northstar Asset Management LLC bought a new position in shares of M&T Bank during the first quarter valued at $204,000. Wells Fargo & Company MN increased its holdings in shares of M&T Bank by 0.4% during the first quarter. Wells Fargo & Company MN now owns 1,635,462 shares of the financial services provider’s stock valued at $301,514,000 after acquiring an additional 6,330 shares in the last quarter. Sentry Investment Management LLC increased its holdings in shares of M&T Bank by 37.4% during the first quarter. Sentry Investment Management LLC now owns 11,038 shares of the financial services provider’s stock valued at $2,035,000 after acquiring an additional 3,007 shares in the last quarter. Finally, WealthTrust Axiom LLC bought a new position in shares of M&T Bank during the first quarter valued at $601,000. 79.01% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MTB traded down $1.98 during trading on Tuesday, reaching $173.96. 745,822 shares of the company traded hands, compared to its average volume of 996,881. The firm has a market cap of $25.30 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. M&T Bank has a 52-week low of $141.12 and a 52-week high of $197.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.06.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.17 by $0.09. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. During the same quarter in the prior year, the firm posted $2.35 earnings per share. research analysts predict that M&T Bank will post 12.84 EPS for the current year.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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

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