M&T Bank’s (MTB) “Buy” Rating Reiterated at Vining Sparks

Vining Sparks reiterated their buy rating on shares of M&T Bank (NYSE:MTB) in a research report report published on Monday. The firm currently has a $200.00 price target on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. Robert W. Baird restated a sell rating and set a $145.00 target price on shares of M&T Bank in a research report on Friday, October 20th. Nomura increased their price target on M&T Bank from $145.00 to $162.00 and gave the stock a neutral rating in a report on Monday, October 23rd. UBS Group upgraded 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 report on Tuesday, December 12th. Citigroup reiterated a neutral rating and issued a $170.00 price target (up previously from $160.00) on shares of M&T Bank in a report on Monday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $167.00 price target on shares of M&T Bank in a report on Friday, September 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $170.78.

Shares of M&T Bank (NYSE MTB) traded up $1.24 during trading on Monday, hitting $177.99. The company had a trading volume of 342,002 shares, 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 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 $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.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company earned $2.10 EPS. analysts predict that M&T Bank will post 9.1 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Thursday, November 30th. M&T Bank’s dividend payout ratio (DPR) is presently 34.56%.

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the 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 sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, VP Michele D. Trolli sold 9,730 shares of the stock in a transaction that occurred on 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 directly owns 24,708 shares of the company’s stock, valued at $4,148,226.12. The disclosure for this sale can be found here. Over the last three months, insiders bought 156,000 shares of company stock valued at $12,650 and sold 32,128 shares valued at $5,474,208. Corporate insiders own 3.18% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Commonwealth Bank of Australia raised its stake in shares of M&T Bank by 4.9% in the second quarter. Commonwealth Bank of Australia now owns 2,117 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 99 shares during the last quarter. Hugh Johnson Advisors LLC raised its stake in shares of M&T Bank by 10.5% in the second quarter. Hugh Johnson Advisors LLC now owns 2,233 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 212 shares during the last quarter. Verity Asset Management Inc. raised its stake in shares of M&T Bank by 17.5% in the second quarter. Verity Asset Management Inc. now owns 1,912 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 285 shares during the last quarter. Sky Investment Group LLC raised its stake in shares of M&T Bank by 1.5% in the third quarter. Sky Investment Group LLC now owns 26,560 shares of the financial services provider’s stock worth $4,277,000 after purchasing an additional 395 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its stake in shares of M&T Bank by 0.6% in the second quarter. Pinebridge Investments L.P. now owns 82,265 shares of the financial services provider’s stock worth $13,323,000 after purchasing an additional 466 shares during the last quarter. 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.

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

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