M&T Bank Corporation (NYSE:MTB)‘s stock had its “buy” rating restated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $168.00 target price on the bank’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 9.50% from the stock’s current price.

A number of other research analysts have also commented on the company. ValuEngine upgraded M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Wells Fargo & Company began coverage on M&T Bank Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price target for the company. Macquarie lowered M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, August 4th. BidaskClub lowered M&T Bank Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $167.00 price target on shares of M&T Bank Corporation in a report on Friday, July 21st. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $161.00.

M&T Bank Corporation (MTB) traded down 0.29% during mid-day trading on Friday, hitting $153.43. 619,503 shares of the stock were exchanged. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 17.96 and a beta of 0.77. The company has a 50 day moving average price of $161.95 and a 200 day moving average price of $160.60. M&T Bank Corporation has a 52 week low of $112.25 and a 52 week high of $173.72.

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

M&T Bank Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $900.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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In other M&T Bank Corporation news, insider Brian E. Hickey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $162.02, for a total transaction of $324,040.00. Following the transaction, the insider now owns 12,169 shares in the company, valued at $1,971,621.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert J. Bojdak sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $163.42, for a total value of $196,104.00. Following the transaction, the insider now owns 20,217 shares in the company, valued at approximately $3,303,862.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,012 shares of company stock worth $3,106,633. Company insiders own 3.18% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in 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 worth $1,571,928,000 after buying an additional 9,829,252 shares in the last quarter. Capital Research Global Investors raised its stake in M&T Bank Corporation by 5.7% in the second quarter. Capital Research Global Investors now owns 5,620,509 shares of the bank’s stock worth $910,241,000 after buying an additional 302,511 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in M&T Bank Corporation by 1,732.6% in the first quarter. Epoch Investment Partners Inc. now owns 315,603 shares of the bank’s stock worth $48,833,000 after buying an additional 298,381 shares in the last quarter. Janus Capital Management LLC raised its stake in M&T Bank Corporation by 404.8% in the first quarter. Janus Capital Management LLC now owns 330,203 shares of the bank’s stock worth $51,092,000 after buying an additional 264,789 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in M&T Bank Corporation by 231.3% in the first quarter. First Trust Advisors LP now owns 313,489 shares of the bank’s stock worth $48,506,000 after buying an additional 218,855 shares in the last quarter. Hedge funds and other institutional investors own 79.57% 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.

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

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