Brokerages Set M&T Bank Corporation (MTB) Target Price at $161.56

M&T Bank Corporation (NYSE:MTB) has earned an average recommendation of “Hold” from the twenty-two brokerages that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $162.24.

Several brokerages recently weighed in on MTB. Nomura boosted their price objective on M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Wells Fargo & Company began coverage on M&T Bank in a report on Wednesday, August 9th. They issued a “market perform” rating and a $170.00 price objective for the company. Robert W. Baird reissued a “sell” rating and issued a $145.00 price objective on shares of M&T Bank in a report on Friday, October 20th. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Finally, Citigroup restated a “neutral” rating and issued a $170.00 target price (up from $160.00) on shares of M&T Bank in a research note on Monday, October 9th.

Shares of M&T Bank (NYSE MTB) traded up $0.44 during trading on Thursday, reaching $169.47. The company had a trading volume of 699,563 shares, compared to its average volume of 641,392. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $25,507.78, a price-to-earnings ratio of 19.30, a P/E/G ratio of 2.06 and a beta of 0.84. M&T Bank has a 1 year low of $141.12 and a 1 year high of $173.72.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by ($0.19). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the prior year, the firm earned $2.10 earnings per share. equities analysts anticipate that M&T Bank will post 9.1 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.75 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.00 dividend on an annualized basis and a yield of 1.77%. M&T Bank’s payout ratio is currently 34.64%.

In other news, insider Randolph Michael Kasum sold 800,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $0.08, for a total transaction of $64,000.00. Also, VP Michele D. Trolli sold 9,730 shares of the business’s 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 transaction, the vice president now 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 90 days, insiders acquired 671,000 shares of company stock valued at $55,870 and sold 1,690,680 shares valued at $1,903,281. Insiders own 3.18% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MTB. Capital Research Global Investors boosted its position in shares of M&T Bank by 5.7% during the second quarter. Capital Research Global Investors now owns 5,620,509 shares of the financial services provider’s stock worth $910,241,000 after buying an additional 302,511 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of M&T Bank by 1,012.7% during the third quarter. Canada Pension Plan Investment Board now owns 250,491 shares of the financial services provider’s stock worth $40,339,000 after buying an additional 227,980 shares during the period. Capital World Investors boosted its position in shares of M&T Bank by 5.1% during the second quarter. Capital World Investors now owns 4,129,000 shares of the financial services provider’s stock worth $668,692,000 after buying an additional 200,000 shares during the period. PGGM Investments boosted its position in shares of M&T Bank by 103.5% during the third quarter. PGGM Investments now owns 256,781 shares of the financial services provider’s stock worth $41,352,000 after buying an additional 130,607 shares during the period. Finally, Pinebridge Investments L.P. boosted its position in shares of M&T Bank by 115.4% during the third quarter. Pinebridge Investments L.P. now owns 177,184 shares of the financial services provider’s stock worth $28,534,000 after buying an additional 94,919 shares during the period. Institutional investors and hedge funds own 79.29% of the company’s stock.

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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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