M&T Bank Corp. (MTB) Given Market Perform Rating at Sanford C. Bernstein
A number of other equities analysts also recently commented on the company. Robert W. Baird reissued an underperform rating on shares of M&T Bank Corp. in a research report on Saturday. FBR & Co boosted their price objective on M&T Bank Corp. from $115.00 to $120.00 and gave the stock a mkt perform rating in a research report on Thursday, October 20th. Wedbush assumed coverage on M&T Bank Corp. in a research report on Thursday, October 6th. They set a neutral rating and a $117.00 price objective for the company. Zacks Investment Research downgraded M&T Bank Corp. from a hold rating to a sell rating in a research report on Thursday, September 29th. Finally, Credit Agricole SA boosted their price objective on M&T Bank Corp. from $128.00 to $129.00 and gave the stock an outperform rating in a research report on Friday, September 23rd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $120.50.
M&T Bank Corp. (NYSE:MTB) opened at 141.26 on Friday. The company has a 50-day moving average of $119.60 and a 200 day moving average of $117.28. M&T Bank Corp. has a one year low of $100.08 and a one year high of $141.99. The firm has a market cap of $21.90 billion, a P/E ratio of 18.95 and a beta of 0.70.
M&T Bank Corp. (NYSE:MTB) last released its earnings results on Wednesday, October 19th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a return on equity of 8.59% and a net margin of 22.32%. During the same period in the prior year, the company posted $1.93 earnings per share. Equities research analysts expect that M&T Bank Corp. will post $7.89 earnings per share for the current fiscal year.
In related news, VP Drew J. Pfirrman sold 500 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $117.47, for a total transaction of $58,735.00. Following the transaction, the vice president now owns 3,090 shares of the company’s stock, valued at $362,982.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert G. Wilmers sold 39,637 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $118.38, for a total value of $4,692,228.06. Following the transaction, the chief executive officer now directly owns 2,490,996 shares in the company, valued at approximately $294,884,106.48. The disclosure for this sale can be found here. Corporate insiders own 3.63% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in MTB. TLP Group LLC acquired a new position in shares of M&T Bank Corp. during the third quarter worth $127,000. Euclid Advisors LLC purchased a new stake in M&T Bank Corp. during the second quarter valued at $128,000. NEXT Financial Group Inc raised its stake in M&T Bank Corp. by 36.5% in the second quarter. NEXT Financial Group Inc now owns 1,096 shares of the company’s stock valued at $129,000 after buying an additional 293 shares during the period. Mosaic Family Wealth LLC raised its stake in M&T Bank Corp. by 12.5% in the third quarter. Mosaic Family Wealth LLC now owns 1,130 shares of the company’s stock valued at $131,000 after buying an additional 126 shares during the period. Finally, Virtus Investment Advisers Inc. purchased a new stake in M&T Bank Corp. during the third quarter valued at $150,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.
About M&T Bank Corp.
M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.
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