M&T Bank Corporation (MTB) – Research Analysts’ Weekly Ratings Changes
A number of research firms have changed their ratings and price targets for M&T Bank Corporation (NYSE: MTB):
- 9/30/2017 – M&T Bank Corporation had its “neutral” rating reaffirmed by analysts at Instinet. They now have a $145.00 price target on the stock, up previously from $144.00.
- 9/28/2017 – M&T Bank Corporation had its price target raised by analysts at Nomura from $144.00 to $145.00. They now have a “neutral” rating on the stock.
- 9/22/2017 – M&T Bank Corporation had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $167.00 price target on the stock.
- 9/19/2017 – M&T Bank Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $168.00 price target on the stock. According to Zacks, “Shares of M&T Bank have underperformed the industry over the past six months. Yet, the company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. M&T Bank’s top-line growth looks encouraging given its diverse fee income base, and consistent rise in deposits and loan growth amid an improving economy. Also, following the Fed interest rate hikes, the pressure on company’s margin has eased. Though, mounting costs resulting from ongoing investments remain a hindrance for bottom-line growth, M&T Bank’s involvement in steady capital deployment activities boosts shareholders’ confidence.”
- 9/16/2017 – M&T Bank Corporation had its “market perform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $165.00 price target on the stock, down previously from $171.00.
- 8/22/2017 – M&T Bank Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 8/18/2017 – M&T Bank Corporation had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $168.00 price target on the stock.
- 8/12/2017 – M&T Bank Corporation was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 8/9/2017 – M&T Bank Corporation is now covered by analysts at Wells Fargo & Company. They set a “market perform” rating and a $170.00 price target on the stock.
M&T Bank Corporation (NYSE MTB) traded down 0.51% during midday trading on Wednesday, reaching $160.49. 208,101 shares of the company’s stock traded hands. The company’s 50-day moving average price is $152.57 and its 200 day moving average price is $157.38. M&T Bank Corporation has a 52 week low of $112.25 and a 52 week high of $173.72. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 18.79 and a beta of 0.78.
M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings data 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 analysts’ expectations of $1.40 billion. M&T Bank Corporation had a net margin of 24.10% and a return on equity of 9.48%. M&T Bank Corporation’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. On average, equities research analysts expect that M&T Bank Corporation will post $9.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, August 30th. This represents a $3.00 annualized dividend and a yield of 1.86%. M&T Bank Corporation’s dividend payout ratio (DPR) is currently 35.09%.
In other news, VP Michele D. Trolli sold 8,908 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 23,091 shares in the company, valued at approximately $3,792,696.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sabeth Siddique sold 950 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $147.17, for a total value of $139,811.50. Following the sale, the insider now owns 1,488 shares of the company’s stock, valued at approximately $218,988.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,058 shares of company stock worth $1,799,055. Corporate insiders own 3.18% of the company’s stock.
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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