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

M&T Bank (NYSE:MTB)‘s stock had its “buy” rating reissued by analysts at Vining Sparks in a report released on Monday. They presently have a $200.00 price objective on the financial services provider’s stock. Vining Sparks’ price target indicates a potential upside of 15.73% from the stock’s current price.

MTB has been the subject of several other reports. Nomura lifted 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. Robert W. Baird reiterated a “sell” rating and set a $130.00 price target on shares of M&T Bank in a research report on Friday, October 6th. Instinet reiterated a “neutral” rating and set a $145.00 price target (up from $144.00) on shares of M&T Bank in a research report on Saturday, September 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $167.00 price target on shares of M&T Bank in a research report on Friday, September 22nd. Finally, Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company’s stock. M&T Bank has an average rating of “Hold” and an average price target of $169.94.

Shares of M&T Bank (NYSE MTB) traded down $0.62 during mid-day trading on Monday, reaching $172.82. The company had a trading volume of 549,600 shares, compared to its average volume of 509,925. 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 stock has a market capitalization of $25,950.00, a PE ratio of 19.91, a P/E/G ratio of 1.85 and a beta of 0.84. M&T Bank has a 52 week low of $141.12 and a 52 week high of $176.71.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.19). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted $2.10 earnings per share. research analysts anticipate that M&T Bank will post 9.1 EPS for the current year.

In other news, VP Michele D. Trolli sold 9,730 shares of M&T Bank 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 sale, the vice president now directly owns 24,708 shares of the company’s stock, valued at $4,148,226.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank 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 in the company, valued at $8,910,268.31. The disclosure for this sale can be found here. Over the last three months, insiders acquired 216,000 shares of company stock worth $17,250 and sold 32,128 shares worth $5,474,208. 3.18% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of MTB. Commonwealth Bank of Australia boosted 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 acquiring an additional 99 shares during the last quarter. Eaton Vance Management lifted its position in M&T Bank by 7.9% during the second quarter. Eaton Vance Management now owns 49,046 shares of the financial services provider’s stock worth $7,943,000 after buying an additional 3,572 shares in the last quarter. HPM Partners LLC purchased a new position in M&T Bank during the second quarter worth approximately $434,000. Riverhead Capital Management LLC lifted its position in M&T Bank by 24.4% during the second quarter. Riverhead Capital Management LLC now owns 3,959 shares of the financial services provider’s stock worth $641,000 after buying an additional 776 shares in the last quarter. Finally, Hugh Johnson Advisors LLC lifted its position in M&T Bank by 10.5% during the second quarter. Hugh Johnson Advisors LLC now owns 2,233 shares of the financial services provider’s stock worth $362,000 after buying an additional 212 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

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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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