M&T Bank Corporation (NYSE:MTB) VP Michele D. Trolli sold 9,730 shares of M&T Bank Corporation stock in a transaction on Friday, October 27th. The stock was sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the sale, the vice president now directly owns 24,708 shares in the company, valued at approximately $4,148,226.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of M&T Bank Corporation (NYSE MTB) opened at 166.90 on Tuesday. The company’s 50 day moving average is $159.37 and its 200-day moving average is $158.74. The company has a market cap of $25.36 billion, a P/E ratio of 19.54 and a beta of 0.78. M&T Bank Corporation has a 12 month low of $120.31 and a 12 month high of $173.72.
M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company posted $2.10 EPS. Analysts expect that M&T Bank Corporation will post $9.09 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of M&T Bank Corporation in the 1st quarter valued at $101,000. Dupont Capital Management Corp acquired a new position in shares of M&T Bank Corporation in the 2nd quarter valued at $140,000. QCI Asset Management Inc. NY raised its stake in shares of M&T Bank Corporation by 0.3% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock valued at $171,000 after buying an additional 3 shares in the last quarter. Sun Life Financial INC raised its stake in shares of M&T Bank Corporation by 8,576.9% in the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the bank’s stock valued at $183,000 after buying an additional 1,115 shares in the last quarter. Finally, Mosaic Family Wealth LLC raised its stake in shares of M&T Bank Corporation by 5.3% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock valued at $198,000 after buying an additional 62 shares in the last quarter. Institutional investors own 78.40% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Nomura lifted their price target on shares of M&T Bank Corporation from $145.00 to $162.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Wells Fargo & Company assumed coverage on shares of M&T Bank Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price target on the stock. Robert W. Baird reaffirmed a “sell” rating and set a $130.00 price target on shares of M&T Bank Corporation in a research note on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $167.00 price target on shares of M&T Bank Corporation in a research note on Friday, July 21st. Finally, Instinet reaffirmed a “neutral” rating and set a $145.00 price target (up previously from $144.00) on shares of M&T Bank Corporation in a research note on Saturday, September 30th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $161.89.
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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