Recent Research Analysts’ Ratings Updates for M&T Bank (MTB)

M&T Bank (NYSE: MTB) has recently received a number of price target changes and ratings updates:

  • 10/10/2018 – M&T Bank was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of M&T Bank have underperformed the industry over the past six months. The company has an impressive earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in three of the trailing four quarters.  The company’s top-line growth looks encouraging given its diverse fee income base and rising rates amid improving economy. Also, the bank’s involvement in steady capital-deployment activities boosts shareholders’ confidence. Further, M&T Bank's focus on expansion through inorganic growth opportunities bodes well for the long term. However, persistently rising expenses due to ongoing investments remains a concern. Also, significant exposure to commercial real estate loans acts as a headwind.”
  • 10/9/2018 – M&T Bank was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $191.00 price target on the stock. According to Zacks, “Shares of M&T Bank have underperformed the industry over the past six months. The company has an impressive earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in three of the trailing four quarters.  The company’s top-line growth looks encouraging given its diverse fee income base and rising rates amid improving economy. Also, the bank’s involvement in steady capital-deployment activities boosts shareholders’ confidence. Further, M&T Bank's focus on expansion through inorganic growth opportunities bodes well for the long term. However, persistently rising expenses due to ongoing investments remains a concern. Also, significant exposure to commercial real estate loans acts as a headwind.”
  • 10/9/2018 – M&T Bank had its “buy” rating reaffirmed by analysts at Vining Sparks. They now have a $220.00 price target on the stock.
  • 10/4/2018 – M&T Bank was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of M&T Bank have underperformed the industry over the past six months. The company has an impressive earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Persistently rising expenses due to ongoing investments remains a concern. Also, significant exposure to commercial real estate loans acts as a headwind. Nevertheless, the company’s top-line growth looks encouraging given its diverse fee income base and rising rates amid improving economy. Also, the bank’s involvement in steady capital-deployment activities boosts shareholders’ confidence. Further, M&T Bank's focus on expansion through inorganic growth opportunities bodes well for the long term.”
  • 10/1/2018 – M&T Bank was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 9/27/2018 – M&T Bank was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/26/2018 – M&T Bank was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating.
  • 9/21/2018 – M&T Bank was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of M&T Bank have underperformed the industry over the past six months. The company has an impressive earnings surprise history, surpassing the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Persistently rising expenses due to ongoing investments remains a concern. Also, significant exposure to commercial real estate loans acts as a headwind. Nevertheless, the company’s top-line growth looks encouraging given its diverse fee income base and rising rates amid improving economy. Also, the bank’s involvement in steady capital-deployment activities boosts shareholders’ confidence. Further, M&T Bank's focus on expansion through inorganic growth opportunities bodes well for the long term.”
  • 9/18/2018 – M&T Bank had its price target lowered by analysts at Morgan Stanley from $195.00 to $190.00. They now have an “equal weight” rating on the stock.
  • 9/3/2018 – M&T Bank was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $120.00 price target on the stock.

MTB stock traded down $1.93 during midday trading on Friday, hitting $158.52. The company had a trading volume of 1,086,600 shares, compared to its average volume of 804,754. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a 52 week low of $155.36 and a 52 week high of $197.37. The company has a market capitalization of $23.66 billion, a P/E ratio of 16.95, a PEG ratio of 0.89 and a beta of 0.95.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.17 by $0.09. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share. As a group, equities analysts predict that M&T Bank Co. will post 12.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 4th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Friday, August 31st. This is an increase from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s dividend payout ratio is currently 42.78%.

In related news, Director Denis J. Salamone sold 25,209 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total transaction of $4,531,569.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in MTB. GSA Capital Partners LLP bought a new position in shares of M&T Bank during the first quarter valued at approximately $342,000. A.R.T. Advisors LLC bought a new position in shares of M&T Bank during the first quarter valued at approximately $2,773,000. United Capital Financial Advisers LLC raised its holdings in shares of M&T Bank by 15.2% during the first quarter. United Capital Financial Advisers LLC now owns 2,994 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 394 shares in the last quarter. LPL Financial LLC raised its holdings in shares of M&T Bank by 3.6% during the first quarter. LPL Financial LLC now owns 8,392 shares of the financial services provider’s stock valued at $1,547,000 after acquiring an additional 293 shares in the last quarter. Finally, Mariner LLC bought a new position in shares of M&T Bank during the first quarter valued at approximately $438,000. Institutional investors own 81.23% of the company’s stock.

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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