M&T Bank (NYSE:MTB)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a report released on Monday, January 8th. They presently have a $201.00 target price on the financial services provider’s stock. Jefferies Group’s target price indicates a potential upside of 4.23% from the stock’s previous close. Jefferies Group also issued estimates for M&T Bank’s Q4 2017 earnings at $2.41 EPS, FY2018 earnings at $11.60 EPS and FY2019 earnings at $12.40 EPS.
A number of other equities research analysts have also weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $180.00 price objective on shares of M&T Bank in a research report on Thursday, December 14th. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $168.00 price objective on the stock in a research report on Tuesday, September 19th. Citigroup restated a “neutral” rating and set a $170.00 price objective (up previously from $160.00) on shares of M&T Bank in a research report on Monday, October 9th. Nomura upped their price target on M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Finally, Robert W. Baird reiterated a “sell” rating and issued a $145.00 price target on shares of M&T Bank in a research report on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $174.00.
Shares of M&T Bank (NYSE MTB) traded up $2.07 during midday trading on Monday, reaching $192.85. The company’s stock had a trading volume of 571,579 shares, compared to its average volume of 625,381. The firm has a market cap of $28,890.00, a PE ratio of 21.87, a PEG ratio of 1.23 and a beta of 0.84. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 1.05. M&T Bank has a 52-week low of $141.12 and a 52-week high of $192.91.
M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. M&T Bank’s revenue was up 2.8% on a year-over-year basis. equities research analysts expect that M&T Bank will post 12.08 earnings per share for the current fiscal year.
In related 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 transaction 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Todaro sold 672 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $188.56, for a total value of $126,712.32. Following the sale, the insider now directly owns 814 shares of the company’s stock, valued at $153,487.84. The disclosure for this sale can be found here. Over the last three months, insiders bought 59,000 shares of company stock valued at $5,110 and sold 86,498 shares valued at $15,898,908. Corporate insiders own 3.18% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Sun Life Financial INC grew its holdings in M&T Bank by 8,576.9% during the second quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 1,115 shares during the period. Savant Capital LLC bought a new position in M&T Bank during the fourth quarter valued at $202,000. Wedbush Securities Inc. bought a new position in M&T Bank during the third quarter valued at $206,000. McCollum Christoferson Group LLC bought a new position in M&T Bank during the fourth quarter valued at $209,000. Finally, Columbia Asset Management bought a new position in M&T Bank during the third quarter valued at $212,000. 77.82% of the stock is owned by institutional investors and hedge funds.
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M&T Bank 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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