Somewhat Positive News Coverage Somewhat Unlikely to Impact M&T Bank Corporation (NYSE:MTB) Stock Price
Headlines about M&T Bank Corporation (NYSE:MTB) have trended somewhat positive on Thursday, Accern Sentiment reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. M&T Bank Corporation earned a news sentiment score of 0.09 on Accern’s scale. Accern also gave media coverage about the bank an impact score of 45.4244943899036 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern’s scoring:
- M&T Bank Corporation (NYSE:MTB) Now Covered by Analysts at Wells Fargo & Company (americanbankingnews.com)
- M&T Bank Corp (MTB) Shares Moving On Volume – Sheridan Daily (sheridandaily.com)
- M&T Bank Corporation (MTB) Position Increased by Sumitomo Mitsui Trust Holdings, Inc. – First News 24 (firstnewspaper24.com)
- M&T Bank Corporation (MTB) VP Michele D. Trolli Sells 8,908 Shares (americanbankingnews.com)
- M&T Bank Corporation: Hold Off For Now (seekingalpha.com)
M&T Bank Corporation (MTB) opened at 163.00 on Thursday. The stock has a market capitalization of $24.86 billion, a PE ratio of 19.09 and a beta of 0.77. The firm has a 50-day moving average of $162.39 and a 200-day moving average of $160.59. M&T Bank Corporation has a one year low of $112.25 and a one year high of $173.72.
M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.08. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. M&T Bank Corporation had a net margin of 24.10% and a return on equity of 9.48%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 EPS. On average, equities research analysts forecast that M&T Bank Corporation will post $9.27 earnings per share for the current year.
M&T Bank Corporation announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $900.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Several brokerages have recently weighed in on MTB. Instinet reiterated a “neutral” rating and set a $144.00 target price on shares of M&T Bank Corporation in a research note on Wednesday, July 12th. BidaskClub upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $174.00 to $186.00 in a research note on Tuesday, July 11th. Zacks Investment Research downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Macquarie downgraded shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $160.40.
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In other news, VP Michele D. Trolli sold 8,908 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $164.25, for a total value of $1,463,139.00. Following the completion of the sale, the vice president now directly owns 23,091 shares of the company’s stock, valued at approximately $3,792,696.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian E. Hickey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $162.02, for a total transaction of $324,040.00. Following the completion of 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. Over the last ninety days, insiders sold 17,812 shares of company stock valued at $2,910,529. Company insiders own 3.18% of the company’s stock.
M&T Bank Corporation Company Profile
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.
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