Morgan Stanley Reaffirms Equal Weight Rating for M&T Bank (MTB)

Morgan Stanley reissued their equal weight rating on shares of M&T Bank (NYSE:MTB) in a research report report published on Thursday. The brokerage currently has a $180.00 price objective on the financial services provider’s stock.

A number of other analysts have also recently commented on MTB. Instinet reaffirmed a neutral rating and set a $145.00 target price (up from $144.00) on shares of M&T Bank in a report on Saturday, September 30th. Nomura upped their target price on shares of M&T Bank from $144.00 to $145.00 and gave the company a neutral rating in a report on Thursday, September 28th. UBS raised shares of M&T Bank from a sell rating to a neutral rating and increased their price objective for the stock from $150.00 to $173.00 in a research note on Tuesday, December 12th. Zacks Investment Research cut shares of M&T Bank from a buy rating to a hold rating in a research note on Monday, October 9th. Finally, Royal Bank of Canada reissued a buy rating and issued a $168.00 price objective on shares of M&T Bank in a research note on Friday, August 18th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. M&T Bank presently has a consensus rating of Hold and an average price target of $165.82.

Shares of M&T Bank (NYSE:MTB) opened at $170.90 on Thursday. M&T Bank has a twelve month low of $141.12 and a twelve month high of $176.62. The company has a market cap of $25,720.00, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 2.08 and a beta of 0.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Zacks’ 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 business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company posted $2.10 earnings per share. equities research analysts predict that M&T Bank will post 9.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.76%. M&T Bank’s dividend payout ratio (DPR) is presently 34.56%.

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the transaction, the director now owns 52,049 shares in the company, valued at $8,910,268.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randolph Michael Kasum sold 530,000 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $0.08, for a total transaction of $42,400.00. Over the last three months, insiders bought 544,000 shares of company stock valued at $44,440 and sold 1,711,082 shares valued at $5,425,776. Corporate insiders own 3.18% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its position 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 acquiring an additional 7,568 shares during the last quarter. California Public Employees Retirement System boosted its position 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 acquiring an additional 22,223 shares during the last quarter. Virtu Financial LLC bought a new position in shares of M&T Bank during the third quarter worth $213,000. Janney Montgomery Scott LLC boosted its position in shares of M&T Bank by 5.3% during the third quarter. Janney Montgomery Scott LLC now owns 28,206 shares of the financial services provider’s stock worth $4,542,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Janney Capital Management LLC bought a new position in shares of M&T Bank during the third quarter worth $231,000. Hedge funds and other institutional investors 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.

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

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