M&T Bank Corp. (NYSE:MTB) 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 changing hands.

Several research firms recently weighed in on MTB. Portales Partners cut shares of M&T Bank Corp. from an “outperform” rating to a “sector perform” rating in a research report on Thursday, April 21st. Robert W. Baird cut shares of M&T Bank Corp. from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $125.00 to $115.00 in a research report on Thursday, April 21st. Credit Suisse Group AG restated a “hold” rating on shares of M&T Bank Corp. in a research report on Monday, May 2nd. Deutsche Bank AG cut shares of M&T Bank Corp. from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $128.00 to $124.00 in a research report on Friday, April 22nd. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of M&T Bank Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, April 20th. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $139.09.

The stock has a market capitalization of $18.93 billion and a price-to-earnings ratio of 16.43. The stock has a 50-day moving average price of $116.91 and a 200-day moving average price of $112.89.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, May 27th.

In other news, VP John L. Dangelo sold 1,050 shares of the business’s stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $119.13, for a total transaction of $125,086.50. Following the transaction, the vice president now owns 2,119 shares of the company’s stock, valued at approximately $252,436.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP D Scott N. Warman sold 503 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The shares were sold at an average price of $119.72, for a total value of $60,219.16. Following the transaction, the executive vice president now directly owns 17,307 shares in the company, valued at approximately $2,071,994.04. The disclosure for this sale can be found here.

Several institutional investors recently added to or reduced their stakes in MTB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in M&T Bank Corp. by 480.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,452 shares of the company’s stock valued at $1,267,000 after buying an additional 8,651 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. increased its position in M&T Bank Corp. by 14.1% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 204,701 shares of the company’s stock valued at $25,105,000 after buying an additional 25,279 shares in the last quarter. Nuance Investments LLC increased its position in M&T Bank Corp. by 129.0% in the fourth quarter. Nuance Investments LLC now owns 13,797 shares of the company’s stock valued at $1,672,000 after buying an additional 7,771 shares in the last quarter. Baillie Gifford & Co. increased its position in M&T Bank Corp. by 4.1% in the fourth quarter. Baillie Gifford & Co. now owns 5,421,905 shares of the company’s stock valued at $657,026,000 after buying an additional 215,021 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in M&T Bank Corp. by 24.2% in the fourth quarter. Vanguard Group Inc. now owns 12,633,075 shares of the company’s stock valued at $1,530,876,000 after buying an additional 2,460,203 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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