M&T Bank Corporation (NYSE:MTB) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Thursday, April 20th. Royal Bank Of Canada reissued a “buy” rating and set a $168.00 target price on shares of M&T Bank Corporation in a research report on Thursday, May 18th. BidaskClub raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC raised 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 report on Tuesday, July 11th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $152.00 target price on shares of M&T Bank Corporation in a research report on Tuesday, June 6th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. M&T Bank Corporation presently has an average rating of “Hold” and an average target price of $161.00.

Shares of M&T Bank Corporation (NYSE MTB) opened at 156.60 on Friday. The stock has a market capitalization of $23.79 billion, a P/E ratio of 18.33 and a beta of 0.77. M&T Bank Corporation has a one year low of $112.25 and a one year high of $173.72. The company’s 50-day moving average is $162.38 and its 200-day moving average is $160.81.

M&T Bank Corporation (NYSE:MTB) last posted its earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.08. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. M&T Bank Corporation had a net margin of 24.10% and a return on equity of 9.48%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 EPS. On average, equities research analysts anticipate that M&T Bank Corporation will post $9.27 earnings per share for the current year.

M&T Bank Corporation declared that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to buyback $900.00 million in shares. This buyback authorization allows the bank to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: “M&T Bank Corporation (NYSE:MTB) Rating Increased to Buy at ValuEngine” was first posted by Daily Political and is the property of of Daily Political. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/08/11/mt-bank-corporation-nysemtb-rating-increased-to-buy-at-valuengine.html.

In other news, VP Michele D. Trolli sold 8,908 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $164.25, for a total transaction of $1,463,139.00. Following the completion of the transaction, the vice president now directly owns 23,091 shares in the company, valued at approximately $3,792,696.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 transaction, the insider now 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 quarter, insiders have sold 19,012 shares of company stock valued at $3,106,633. Company insiders own 3.18% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted 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 valued at $1,571,928,000 after buying an additional 9,829,252 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 valued at $877,633,000 after buying an additional 114,924 shares during the period. Geode Capital Management LLC boosted its position in shares of M&T Bank Corporation by 8.4% in the first quarter. Geode Capital Management LLC now owns 1,512,637 shares of the bank’s stock valued at $233,725,000 after buying an additional 116,992 shares during the period. American Century Companies Inc. boosted its position in shares of M&T Bank Corporation by 0.4% in the first quarter. American Century Companies Inc. now owns 1,473,607 shares of the bank’s stock valued at $228,011,000 after buying an additional 6,491 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of M&T Bank Corporation by 8.5% in the first quarter. Wells Fargo & Company MN now owns 1,453,111 shares of the bank’s stock valued at $224,841,000 after buying an additional 113,812 shares during the period. Hedge funds and other institutional investors own 79.63% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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.