M&T Bank Corporation (NYSE:MTB) had its price objective upped by research analysts at Nomura from $145.00 to $162.00 in a report issued on Monday. The firm presently has a “neutral” rating on the bank’s stock. Nomura’s target price points to a potential downside of 1.94% from the stock’s previous close.

A number of other research firms have also recently commented on MTB. Instinet restated a “neutral” rating and set a $144.00 target price on shares of M&T Bank Corporation in a research report on Wednesday, July 12th. BidaskClub upgraded M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC upgraded M&T Bank Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $174.00 to $186.00 in a research report on Tuesday, July 11th. Zacks Investment Research cut M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, Macquarie cut M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. M&T Bank Corporation presently has a consensus rating of “Hold” and an average price target of $161.89.

M&T Bank Corporation (MTB) traded down 0.05% during mid-day trading on Monday, reaching $165.11. The company’s stock had a trading volume of 388,107 shares. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 19.33 and a beta of 0.78. The stock has a 50-day moving average price of $156.13 and a 200-day moving average price of $158.01. M&T Bank Corporation has a one year low of $117.30 and a one year high of $173.72.

M&T Bank Corporation (NYSE:MTB) last posted its earnings results on Wednesday, October 18th. The bank reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $2.10 earnings per share. Equities research analysts forecast that M&T Bank Corporation will post $9.11 EPS for the current year.

M&T Bank Corporation announced that its board has approved a stock buyback plan on Wednesday, June 28th that permits the company to buyback $900.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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In other news, VP Michele D. Trolli sold 8,908 shares of M&T Bank Corporation stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $164.25, for a total transaction of $1,463,139.00. Following the sale, the vice president now owns 23,091 shares of the company’s stock, valued at approximately $3,792,696.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sabeth Siddique sold 950 shares of M&T Bank Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total transaction of $139,811.50. Following the sale, the insider now directly owns 1,488 shares in the company, valued at approximately $218,988.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,058 shares of company stock worth $1,799,055. Corporate insiders own 3.18% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in MTB. Oppenheimer Asset Management Inc. purchased a new stake in M&T Bank Corporation in the first quarter valued at approximately $101,000. Dupont Capital Management Corp purchased a new stake in M&T Bank Corporation in the second quarter valued at approximately $140,000. QCI Asset Management Inc. NY raised its position in M&T Bank Corporation by 0.3% in the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock valued at $171,000 after purchasing an additional 3 shares during the period. Sun Life Financial INC raised its position in M&T Bank Corporation by 8,576.9% in the second quarter. Sun Life Financial INC now owns 1,128 shares of the bank’s stock valued at $183,000 after purchasing an additional 1,115 shares during the period. Finally, Mosaic Family Wealth LLC raised its position in M&T Bank Corporation by 5.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock valued at $198,000 after purchasing an additional 62 shares during the period. 78.35% of the stock is currently owned by hedge funds and other institutional investors.

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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