M&T Bank (MTB) Earns “Buy” Rating from Jefferies Group

Jefferies Group reaffirmed their buy rating on shares of M&T Bank (NYSE:MTB) in a research note issued to investors on Monday morning. Jefferies Group currently has a $201.00 price target on the financial services provider’s stock. 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.

Other analysts have also recently issued research reports about the stock. Morgan Stanley reiterated an equal weight rating and issued a $180.00 price objective on shares of M&T Bank in a research note on Thursday, December 14th. Zacks Investment Research upgraded shares of M&T Bank from a hold rating to a buy rating and set a $168.00 price objective for the company in a research note on Tuesday, September 19th. Citigroup reiterated a neutral rating and issued a $170.00 price objective (up previously from $160.00) on shares of M&T Bank in a research note on Monday, October 9th. Nomura raised their price objective on shares of M&T Bank from $145.00 to $162.00 and gave the company a neutral rating in a research note on Monday, October 23rd. Finally, Robert W. Baird reiterated a sell rating and issued a $145.00 price objective on shares of M&T Bank in a research note on Friday, October 20th. Three investment 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. The company presently has an average rating of Hold and an average target price of $170.78.

M&T Bank (NYSE MTB) traded up $0.53 during mid-day trading on Monday, hitting $178.52. 438,848 shares of the stock traded hands, compared to its average volume of 488,778. M&T Bank has a one year low of $141.12 and a one year high of $179.49. The firm has a market cap of $26,870.00, a PE ratio of 20.57, a PEG ratio of 1.85 and a beta of 0.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $2.10 EPS. equities research analysts forecast that M&T Bank will post 9.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, November 30th. M&T Bank’s payout ratio is currently 34.56%.

In other M&T Bank news, Director Gary N. Geisel sold 1,046 shares of M&T Bank stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $170.49, for a total transaction of $178,332.54. Following the completion of the transaction, the director now owns 17,586 shares in the company, valued at $2,998,237.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michele D. Trolli sold 9,730 shares of M&T Bank stock in a transaction dated 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 transaction, the vice president now owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 141,000 shares of company stock valued at $11,600 and have sold 32,128 shares valued at $5,474,208. Insiders own 3.18% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. LGT Capital Partners LTD. grew its holdings in shares of M&T Bank by 1.7% during the fourth quarter. LGT Capital Partners LTD. now owns 102,610 shares of the financial services provider’s stock worth $17,545,000 after buying an additional 1,745 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of M&T Bank by 1.3% during the fourth quarter. Confluence Investment Management LLC now owns 99,170 shares of the financial services provider’s stock worth $16,957,000 after buying an additional 1,260 shares in the last quarter. Renaissance Investment Group LLC grew its holdings in shares of M&T Bank by 10.6% during the fourth quarter. Renaissance Investment Group LLC now owns 19,175 shares of the financial services provider’s stock worth $3,279,000 after buying an additional 1,840 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of M&T Bank by 2.8% during the third quarter. Parametric Portfolio Associates LLC now owns 279,187 shares of the financial services provider’s stock worth $44,960,000 after buying an additional 7,568 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of M&T Bank by 5.6% during the third quarter. California Public Employees Retirement System now owns 418,997 shares of the financial services provider’s stock worth $67,475,000 after buying an additional 22,223 shares in the last quarter. Institutional investors and hedge funds own 77.73% 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.

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

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