M&T Bank Corporation (MTB) Given $163.50 Average Target Price by Analysts

M&T Bank Corporation (NYSE:MTB) has received an average broker rating score of 3.38 (Hold) from the thirteen brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong sell recommendation, one has issued a sell recommendation, eight have issued a hold recommendation and one has given a strong buy recommendation to the company. M&T Bank Corporation’s rating score has improved by 2% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus price objective of $163.50 for the company and are predicting that the company will post $2.40 earnings per share for the current quarter, according to Zacks. Zacks has also assigned M&T Bank Corporation an industry rank of 165 out of 265 based on the ratings given to its competitors.

A number of brokerages recently issued reports on MTB. Nomura lifted their target price on M&T Bank Corporation from $145.00 to $162.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Macquarie cut M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, August 4th. BidaskClub cut M&T Bank Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Wells Fargo & Company started coverage on M&T Bank Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $170.00 target price on the stock. Finally, Robert W. Baird reiterated a “sell” rating and set a $145.00 price target on shares of M&T Bank Corporation in a report on Friday, October 20th.

M&T Bank Corporation (NYSE:MTB) opened at $157.10 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $23,645.97, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.91 and a beta of 0.85. M&T Bank Corporation has a 1-year low of $132.70 and a 1-year high of $173.72.

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

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In other M&T Bank Corporation news, VP Michele D. Trolli sold 9,730 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $167.89, for a total value of $1,633,569.70. Following the completion of the sale, the vice president now owns 24,708 shares of the company’s stock, valued at $4,148,226.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Randolph Michael Kasum sold 800,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $0.08, for a total value of $64,000.00. In the last 90 days, insiders acquired 1,053,000 shares of company stock worth $89,640 and sold 1,779,680 shares worth $1,912,181. Insiders own 3.18% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its position in shares of M&T Bank Corporation by 5.7% in the second quarter. Capital Research Global Investors now owns 5,620,509 shares of the bank’s stock worth $910,241,000 after buying an additional 302,511 shares during the last quarter. Capital World Investors lifted its position in shares of M&T Bank Corporation by 5.1% in the second quarter. Capital World Investors now owns 4,129,000 shares of the bank’s stock worth $668,692,000 after buying an additional 200,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of M&T Bank Corporation by 0.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 476,172 shares of the bank’s stock worth $77,116,000 after buying an additional 2,097 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of M&T Bank Corporation by 2.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 404,138 shares of the bank’s stock worth $65,450,000 after buying an additional 10,836 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of M&T Bank Corporation by 0.8% in the second quarter. California Public Employees Retirement System now owns 396,774 shares of the bank’s stock worth $64,258,000 after buying an additional 3,000 shares during the last quarter. 79.28% of the stock is owned by institutional investors.

M&T Bank Corporation Company Profile

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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Analyst Recommendations for M&T Bank Corporation (NYSE:MTB)

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