M&T Bank Corporation (MTB) Receives Average Recommendation of “Hold” from Brokerages
M&T Bank Corporation (NYSE:MTB) has earned a consensus recommendation of “Hold” from the twenty-three brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $161.56.
A number of research firms have commented on MTB. Nomura upped their price target on M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Wells Fargo & Company began coverage on M&T Bank in a research report on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price target for the company. Robert W. Baird reissued a “sell” rating and issued a $130.00 target price on shares of M&T Bank in a research report on Friday, October 6th. Instinet reissued a “neutral” rating and issued a $145.00 target price (up previously from $144.00) on shares of M&T Bank in a research report on Saturday, September 30th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $167.00 target price on shares of M&T Bank in a research report on Friday, September 22nd.
In related news, VP Michele D. Trolli sold 9,730 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the completion of the transaction, the vice president now owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Randolph Michael Kasum sold 800,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $0.08, for a total value of $64,000.00. In the last ninety days, insiders have purchased 716,000 shares of company stock valued at $59,920 and have sold 1,690,680 shares valued at $1,903,281. 3.18% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Dupont Capital Management Corp purchased a new stake in M&T Bank during the 2nd quarter valued at $140,000. QCI Asset Management Inc. NY boosted its stake in M&T Bank by 0.3% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 3 shares during the last quarter. Sun Life Financial INC boosted its stake in M&T Bank by 8,576.9% during the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 1,115 shares during the last quarter. Mosaic Family Wealth LLC boosted its stake in M&T Bank by 5.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 62 shares during the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in M&T Bank during the 3rd quarter valued at $206,000. Institutional investors and hedge funds own 79.29% of the company’s stock.
M&T Bank (NYSE:MTB) opened at $169.11 on Thursday. The company has a market capitalization of $25,180.00, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. M&T Bank has a 52-week low of $140.47 and a 52-week high of $173.72.
M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the previous year, the company earned $2.10 EPS. equities research analysts forecast that M&T Bank will post 9.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 30th. M&T Bank’s dividend payout ratio (DPR) is presently 34.56%.
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About M&T Bank
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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