BidaskClub upgraded shares of M&T Bank Corporation (NYSE:MTB) from a sell rating to a hold rating in a report published on Thursday morning.

Several other research analysts have also issued reports on the company. Morgan Stanley reiterated an equal weight rating and issued a $152.00 price target on shares of M&T Bank Corporation in a report on Tuesday, June 6th. ValuEngine upgraded M&T Bank Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a buy rating and issued a $168.00 target price on shares of M&T Bank Corporation in a report on Thursday, May 18th. Jefferies Group LLC restated a hold rating and issued a $174.00 target price on shares of M&T Bank Corporation in a report on Monday, May 15th. Finally, Zacks Investment Research upgraded M&T Bank Corporation from a hold rating to a strong-buy rating and set a $180.00 target price on the stock in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. M&T Bank Corporation presently has an average rating of Hold and an average price target of $154.27.

M&T Bank Corporation (NYSE:MTB) opened at 161.62 on Thursday. The firm’s 50 day moving average price is $159.37 and its 200 day moving average price is $158.86. The firm has a market cap of $24.87 billion, a price-to-earnings ratio of 19.78 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.

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings results on Monday, April 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.18. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. M&T Bank Corporation had a return on equity of 9.22% and a net margin of 23.62%. During the same quarter in the prior year, the company earned $1.87 earnings per share. Equities research analysts anticipate that M&T Bank Corporation will post $9.13 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece was posted by Daily Political and is owned by of Daily Political. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/06/20/mt-bank-corporation-mtb-raised-to-hold-at-bidaskclub.html.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 1st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, May 30th. M&T Bank Corporation’s payout ratio is 36.67%.

In related news, insider Richard S. Gold sold 6,904 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian E. Hickey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total value 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. Company insiders own 3.18% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in MTB. Buffington Mohr McNeal increased its stake in M&T Bank Corporation by 33.9% in the first quarter. Buffington Mohr McNeal now owns 6,010 shares of the bank’s stock worth $930,000 after buying an additional 1,520 shares in the last quarter. WealthTrust Axiom LLC purchased a new stake in M&T Bank Corporation during the first quarter worth about $220,000. JPMorgan Chase & Co. increased its stake in M&T Bank Corporation by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 5,672,025 shares of the bank’s stock worth $877,633,000 after buying an additional 114,924 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in M&T Bank Corporation by 25.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 22,141 shares of the bank’s stock worth $3,426,000 after buying an additional 4,461 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in M&T Bank Corporation by 153.0% in the fourth quarter. Bessemer Group Inc. now owns 6,837 shares of the bank’s stock worth $1,069,000 after buying an additional 4,135 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

About M&T Bank Corporation

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.

Receive News & Ratings for M&T Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Corporation and related companies with MarketBeat.com's FREE daily email newsletter.