Piper Jaffray Companies Reaffirms Neutral Rating for M&T Bank (MTB)

M&T Bank (NYSE:MTB)‘s stock had its “neutral” rating restated by stock analysts at Piper Jaffray Companies in a report issued on Thursday.

MTB has been the subject of a number of other reports. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “sell” rating and set a $130.00 price target on shares of M&T Bank in a research note on Friday, October 6th. Barclays increased their price target on M&T Bank from $175.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Vining Sparks reaffirmed a “buy” rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, January 8th. Finally, ValuEngine raised M&T Bank from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $170.78.

Shares of M&T Bank (NYSE:MTB) traded up $6.94 during midday trading on Thursday, reaching $186.15. The company’s stock had a trading volume of 1,397,144 shares, compared to its average volume of 602,392. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. The company has a market cap of $28,020.00, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.26 and a beta of 0.84. M&T Bank has a 52-week low of $141.12 and a 52-week high of $188.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the previous year, the business posted $2.10 earnings per share. analysts predict that M&T Bank will post 9.1 EPS for the current year.

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $171.19, for a total value of $171,190.00. Following the completion of the sale, the director now owns 52,049 shares in the company, valued at $8,910,268.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael R. Spychala sold 13,417 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $170.92, for a total value of $2,293,233.64. Following the completion of the sale, the vice president now owns 51,622 shares of the company’s stock, valued at approximately $8,823,232.24. The disclosure for this sale can be found here. Over the last three months, insiders have bought 114,000 shares of company stock valued at $9,710 and have sold 32,128 shares valued at $5,474,208. Company insiders own 3.18% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Berkshire Asset Management LLC PA raised its holdings in shares of M&T Bank by 3.8% during the third quarter. Berkshire Asset Management LLC PA now owns 119,788 shares of the financial services provider’s stock worth $13,907,000 after acquiring an additional 4,399 shares in the last quarter. Speece Thorson Capital Group Inc. raised its holdings in shares of M&T Bank by 0.6% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 130,680 shares of the financial services provider’s stock worth $15,836,000 after acquiring an additional 796 shares in the last quarter. BlackRock Investment Management LLC raised its holdings in shares of M&T Bank by 8.7% during the third quarter. BlackRock Investment Management LLC now owns 629,690 shares of the financial services provider’s stock worth $73,107,000 after acquiring an additional 50,571 shares in the last quarter. Nuance Investments LLC raised its holdings in shares of M&T Bank by 43.4% during the second quarter. Nuance Investments LLC now owns 265,234 shares of the financial services provider’s stock worth $31,359,000 after acquiring an additional 80,284 shares in the last quarter. Finally, Suntrust Banks Inc. raised its holdings in shares of M&T Bank by 12.6% during the fourth quarter. Suntrust Banks Inc. now owns 20,957 shares of the financial services provider’s stock worth $2,538,000 after acquiring an additional 2,348 shares in the last quarter. Institutional investors own 77.73% of the company’s stock.

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About M&T Bank

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 (NYSE:MTB)

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