M&T Bank Co. (MTB) Receives Consensus Rating of “Hold” from Analysts

Shares of M&T Bank Co. (NYSE:MTB) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $179.00.

A number of equities analysts have recently commented on the company. Nomura boosted their price objective on M&T Bank from $145.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Jefferies Group reissued a “buy” rating and set a $201.00 price objective on shares of M&T Bank in a research report on Monday, January 8th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of M&T Bank in a research report on Tuesday, February 6th. Wedbush reissued a “neutral” rating and set a $186.00 price objective (up from $180.00) on shares of M&T Bank in a research report on Tuesday, February 6th. Finally, Vining Sparks reissued a “buy” rating and set a $200.00 price objective on shares of M&T Bank in a research report on Monday, January 8th.

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 52,049 shares of the company’s stock, valued at $8,910,268.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard S. Gold sold 4,904 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $191.50, for a total value of $939,116.00. Following the completion of the transaction, the chief operating officer now directly owns 44,888 shares of the company’s stock, valued at $8,596,052. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 24,000 shares of company stock valued at $2,310 and sold 92,427 shares valued at $17,033,174. Corporate insiders own 3.18% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC purchased a new stake in M&T Bank in the second quarter valued at approximately $2,684,000. Public Employees Retirement System of Ohio lifted its stake in M&T Bank by 9.8% in the second quarter. Public Employees Retirement System of Ohio now owns 63,579 shares of the financial services provider’s stock valued at $10,297,000 after buying an additional 5,673 shares during the last quarter. Toronto Dominion Bank lifted its stake in M&T Bank by 24.7% in the second quarter. Toronto Dominion Bank now owns 52,585 shares of the financial services provider’s stock valued at $8,515,000 after buying an additional 10,432 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in M&T Bank in the second quarter valued at approximately $559,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in M&T Bank in the third quarter valued at approximately $627,000. 77.47% of the stock is owned by hedge funds and other institutional investors.

Shares of M&T Bank (MTB) opened at $184.75 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 0.99. The stock has a market cap of $27,487.12, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.17 and a beta of 0.91. M&T Bank has a one year low of $141.12 and a one year high of $193.85.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.26. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. sell-side analysts anticipate that M&T Bank will post 12.14 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a share buyback plan on Monday, February 5th that allows the company to repurchase $745.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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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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