Instinet reissued their neutral rating on shares of M&T Bank Corporation (NYSE:MTB) in a research report released on Wednesday. Instinet currently has a $144.00 price target on the bank’s stock.

Several other equities research analysts have also issued reports on the stock. Jefferies Group LLC raised shares of M&T Bank Corporation from a hold rating to a buy rating and lifted their price objective for the company from $174.00 to $186.00 in a research note on Tuesday, July 11th. Morgan Stanley reaffirmed an equal weight rating and issued a $155.00 price objective (up previously from $152.00) on shares of M&T Bank Corporation in a research note on Friday, July 7th. BidaskClub raised shares of M&T Bank Corporation from a hold rating to a buy rating in a research note on Thursday, July 6th. Zacks Investment Research lowered shares of M&T Bank Corporation from a buy rating to a hold rating in a research note on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods set a $160.00 price objective on shares of M&T Bank Corporation and gave the company a hold rating in a research note on Monday, June 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $159.93.

M&T Bank Corporation (NYSE MTB) opened at 165.99 on Wednesday. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 20.32 and a beta of 0.77. The firm has a 50-day moving average price of $159.70 and a 200 day moving average price of $159.30. M&T Bank Corporation has a 52-week low of $111.82 and a 52-week high of $173.72.

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

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The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 1st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Tuesday, May 30th. M&T Bank Corporation’s dividend payout ratio is currently 36.67%.

M&T Bank Corporation declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $900.00 million in shares. This buyback authorization authorizes the bank to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

In other news, insider Richard S. Gold sold 6,904 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the completion of the transaction, the insider now 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 can be accessed through this link. Also, insider Brian E. Hickey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total transaction of $324,040.00. Following the transaction, the insider now directly owns 12,169 shares of the company’s stock, valued at approximately $1,971,621.38. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of M&T Bank Corporation by 2,979.3% in the first quarter. BlackRock Inc. now owns 10,159,175 shares of the bank’s stock worth $1,571,928,000 after buying an additional 9,829,252 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of M&T Bank Corporation by 1,732.6% in the first quarter. Epoch Investment Partners Inc. now owns 315,603 shares of the bank’s stock worth $48,833,000 after buying an additional 298,381 shares in the last quarter. Janus Capital Management LLC raised its position in shares of M&T Bank Corporation by 404.8% in the first quarter. Janus Capital Management LLC now owns 330,203 shares of the bank’s stock worth $51,092,000 after buying an additional 264,789 shares in the last quarter. First Trust Advisors LP raised its position in shares of M&T Bank Corporation by 231.3% in the first quarter. First Trust Advisors LP now owns 313,489 shares of the bank’s stock worth $48,506,000 after buying an additional 218,855 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of M&T Bank Corporation by 54.3% in the first quarter. AQR Capital Management LLC now owns 422,395 shares of the bank’s stock worth $65,357,000 after buying an additional 148,585 shares in the last quarter. 79.02% 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.

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

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