M&T Bank Co. (MTB) – Research Analysts’ Weekly Ratings Changes
Several brokerages have updated their recommendations and price targets on shares of M&T Bank Co. (NYSE: MTB) in the last few weeks:
- 10/6/2016 – M&T Bank Co. is now covered by analysts at Wedbush. They set a “neutral” rating and a $117.00 price target on the stock.
- 9/29/2016 – M&T Bank Co. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “M&T Bank’s bottom-line growth remains challenged owing to rising expenses. Notably, management expects FDIC’s surcharge imposition to result in additional assessment expense of $5 million per quarter starting in the third quarter. Further, the company’s higher exposure in commercial real estate loans poses a threat to its profitability. Moreover, stringent regulatory norms are expected to deter M&T Bank’s flexibility in its business investments and operations. However, rising net interest income and inorganic growth strategies supported by sound liquidity position will likely bolster the company’s top-line growth. Further, improving economy will enhance loan growth and credit quality.”
- 9/23/2016 – M&T Bank Co. had its price target raised by analysts at Credit Agricole SA from $128.00 to $129.00. They now have an “outperform” rating on the stock.
- 9/20/2016 – M&T Bank Co. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “M&T Bank’s rising net interest income and decent deposit and loan growth backed by improving economy will aid in top-line enhancement. Further, the bank expects low to mid-single digit loan growth in 2016, following the Hudson City merger in Nov, 2015. Also, steady capital deployment activities along with strong liquidity levels are expected to enhance investors’ confidence in the stock. However, mounting costs resulting from ongoing investments in several areas and pending litigations remain a hindrance for bottom-line growth. Further, the company’s higher exposure in commercial real estate loans poses a threat, in addition to stricter regulatory norms.”
- 8/12/2016 – M&T Bank Co. had its “buy” rating reaffirmed by analysts at Barclays PLC.
M&T Bank Co. (NYSE:MTB) opened at 117.89 on Tuesday. The company has a market capitalization of $18.48 billion, a P/E ratio of 16.21 and a beta of 0.75. The company’s 50-day moving average price is $116.64 and its 200-day moving average price is $116.04. M&T Bank Co. has a 52 week low of $100.08 and a 52 week high of $127.39.
M&T Bank Co. (NYSE:MTB) last released its earnings results on Wednesday, July 20th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.08 by $0.10. The business earned $1.31 billion during the quarter, compared to analyst estimates of $1.32 billion. M&T Bank Co. had a net margin of 22.07% and a return on equity of 8.58%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $1.98 EPS. On average, equities analysts forecast that M&T Bank Co. will post $7.96 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 1st were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Tuesday, August 30th. M&T Bank Co.’s dividend payout ratio (DPR) is currently 38.41%.
In other M&T Bank Co. news, CEO Robert G. Wilmers sold 60,363 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $118.32, for a total value of $7,142,150.16. Following the sale, the chief executive officer now owns 2,490,996 shares of the company’s stock, valued at approximately $294,734,646.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert G. Wilmers sold 39,637 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $118.38, for a total value of $4,692,228.06. Following the completion of the sale, the chief executive officer now directly owns 2,490,996 shares in the company, valued at approximately $294,884,106.48. The disclosure for this sale can be found here. 3.63% of the stock is owned by company insiders.
M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.
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