M&T Bank Corp. (NYSE:MTB)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $117.69, but opened at $117.96. M&T Bank Corp. shares last traded at $119.78, with a volume of 303,737 shares trading hands.

MTB has been the topic of several research analyst reports. Deutsche Bank AG cut M&T Bank Corp. from a “buy” rating to a “hold” rating and reduced their target price for the company from $128.00 to $124.00 in a research note on Friday, April 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a “hold” rating on shares of M&T Bank Corp. in a research note on Wednesday, April 6th. Robert W. Baird cut M&T Bank Corp. from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $125.00 to $115.00 in a research note on Thursday, April 21st. Zacks Investment Research upgraded M&T Bank Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Finally, Sandler O’Neill lowered M&T Bank Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $139.09.

The stock has a 50 day moving average of $116.89 and a 200-day moving average of $112.92. The firm has a market capitalization of $18.99 billion and a PE ratio of 16.48.

M&T Bank Corp. (NYSE:MTB) last posted its quarterly earnings data on Monday, April 18th. The company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.97. During the same period last year, the firm posted $1.65 earnings per share. On average, equities analysts forecast that M&T Bank Corp. will post $8.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were given a $0.70 dividend. The ex-dividend date was Friday, May 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.34%.

In other M&T Bank Corp. news, VP John L. Dangelo sold 1,050 shares of M&T Bank Corp. stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $119.13, for a total transaction of $125,086.50. Following the completion of the sale, the vice president now owns 2,119 shares of the company’s stock, valued at approximately $252,436.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Mark J. Czarnecki sold 25,332 shares of M&T Bank Corp. stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $115.03, for a total value of $2,913,939.96. Following the sale, the president now directly owns 84,022 shares of the company’s stock, valued at approximately $9,665,050.66. The disclosure for this sale can be found here.

A number of hedge funds have recently modified their holdings of the company. State of Tennessee Treasury Department boosted its stake in shares of M&T Bank Corp. by 4.3% in the fourth quarter. State of Tennessee Treasury Department now owns 55,491 shares of the company’s stock worth $6,724,000 after buying an additional 2,263 shares in the last quarter. Veritable L.P. boosted its stake in shares of M&T Bank Corp. by 1.0% in the fourth quarter. Veritable L.P. now owns 24,511 shares of the company’s stock worth $2,970,000 after buying an additional 250 shares in the last quarter. Eaton Vance Management boosted its stake in shares of M&T Bank Corp. by 42.3% in the fourth quarter. Eaton Vance Management now owns 45,574 shares of the company’s stock worth $5,523,000 after buying an additional 13,543 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of M&T Bank Corp. by 12.6% in the fourth quarter. Suntrust Banks Inc. now owns 20,957 shares of the company’s stock worth $2,538,000 after buying an additional 2,348 shares in the last quarter. Finally, Cambridge Trust Co. boosted its stake in shares of M&T Bank Corp. by 3.1% in the fourth quarter. Cambridge Trust Co. now owns 70,925 shares of the company’s stock worth $8,595,000 after buying an additional 2,107 shares in the last quarter.

M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.

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