M&T Bank (NYSE:MTB) has been assigned a $180.00 price target by equities research analysts at Wells Fargo & Co in a note issued to investors on Wednesday, December 20th. The firm currently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Co’s price target suggests a potential upside of 1.13% from the stock’s previous close.
Several other research analysts have also commented on the stock. Morgan Stanley restated an “equal weight” rating and set a $180.00 price target on shares of M&T Bank in a research note on Thursday, December 14th. UBS Group upgraded shares of M&T Bank from a “sell” rating to a “neutral” rating and increased their price target for the stock from $150.00 to $173.00 in a research note on Tuesday, December 12th. Nomura upped their price objective on shares of M&T Bank from $145.00 to $162.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Robert W. Baird reaffirmed a “sell” rating and set a $145.00 price objective on shares of M&T Bank in a report on Friday, October 20th. Finally, Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $170.78.
Shares of M&T Bank (MTB) traded up $1.24 on Wednesday, hitting $177.99. 342,002 shares of the stock traded hands, compared to its average volume of 494,938. M&T Bank has a 52 week low of $141.12 and a 52 week high of $178.42. The firm has a market cap of $26,790.00, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57.
M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by ($0.19). M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. 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 company earned $2.10 EPS. research analysts anticipate that M&T Bank will post 9.1 EPS for the current year.
In other M&T Bank news, VP Michele D. Trolli sold 9,730 shares of the stock in a transaction on Friday, October 27th. The shares were 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 directly owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gary N. Geisel sold 1,046 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $170.49, for a total transaction of $178,332.54. Following the completion of the sale, the director now directly owns 17,586 shares of the company’s stock, valued at $2,998,237.14. The disclosure for this sale can be found here. Over the last three months, insiders acquired 156,000 shares of company stock valued at $12,650 and sold 32,128 shares valued at $5,474,208. 3.18% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of MTB. Capital Research Global Investors lifted its holdings in shares of M&T Bank by 5.7% during the 2nd quarter. Capital Research Global Investors now owns 5,620,509 shares of the financial services provider’s stock worth $910,241,000 after acquiring an additional 302,511 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of M&T Bank by 1,012.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 250,491 shares of the financial services provider’s stock worth $40,339,000 after acquiring an additional 227,980 shares during the period. Capital World Investors lifted its holdings in shares of M&T Bank by 5.1% during the 2nd quarter. Capital World Investors now owns 4,129,000 shares of the financial services provider’s stock worth $668,692,000 after acquiring an additional 200,000 shares during the period. PGGM Investments lifted its holdings in shares of M&T Bank by 103.5% during the 3rd quarter. PGGM Investments now owns 256,781 shares of the financial services provider’s stock worth $41,352,000 after acquiring an additional 130,607 shares during the period. Finally, Pinebridge Investments L.P. lifted its holdings in shares of M&T Bank by 115.4% during the 3rd quarter. Pinebridge Investments L.P. now owns 177,184 shares of the financial services provider’s stock worth $28,534,000 after acquiring an additional 94,919 shares during the period. 77.73% of the stock is owned by hedge funds and other institutional investors.
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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.
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