M&T Bank (MTB) Stock Rating Reaffirmed by Jefferies Group
M&T Bank (NYSE:MTB)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group in a report released on Tuesday. They currently have a $207.00 price objective on the financial services provider’s stock. Jefferies Group’s target price suggests a potential upside of 14.01% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of M&T Bank in a report on Friday, January 19th. Vining Sparks reaffirmed a “buy” rating and issued a $200.00 price objective on shares of M&T Bank in a report on Monday, January 8th. ValuEngine raised M&T Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $211.00 price objective for the company in a report on Wednesday, March 21st. Finally, Wells Fargo set a $180.00 price objective on M&T Bank and gave the company a “hold” rating in a report on Wednesday, December 20th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $177.25.
MTB opened at $181.57 on Tuesday. The firm has a market capitalization of $27,506.40, a P/E ratio of 19.42, a PEG ratio of 1.18 and a beta of 0.90. M&T Bank has a 1 year low of $141.12 and a 1 year high of $197.37. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.54.
M&T Bank declared that its board has approved a share repurchase program on Monday, February 5th that allows the company to buyback $745.00 million in shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, insider Robert J. Bojdak sold 1,062 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $195.17, for a total transaction of $207,270.54. Following the completion of the transaction, the insider now owns 22,071 shares of the company’s stock, valued at approximately $4,307,597.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $194.85, for a total value of $194,850.00. Following the transaction, the director now directly owns 52,197 shares of the company’s stock, valued at approximately $10,170,585.45. The disclosure for this sale can be found here. Insiders have sold a total of 72,091 shares of company stock valued at $13,594,655 in the last three months. 0.48% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of MTB. Captrust Financial Advisors acquired a new position in shares of M&T Bank during the 4th quarter worth $171,000. Calton & Associates Inc. acquired a new position in M&T Bank in the 4th quarter worth about $178,000. NuWave Investment Management LLC acquired a new position in M&T Bank in the 4th quarter worth about $197,000. Savant Capital LLC acquired a new position in M&T Bank in the 4th quarter worth about $202,000. Finally, Shelton Capital Management acquired a new position in M&T Bank in the 4th quarter worth about $202,000. 77.74% of the stock is owned by institutional investors.
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M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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