M&T Bank Corporation (NYSE:MTB) has received a consensus recommendation of “Hold” from the twenty research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $158.36.

A number of research firms recently weighed in on MTB. Instinet restated a “neutral” rating and set a $144.00 target price on shares of M&T Bank Corporation in a research note on Wednesday. Jefferies Group LLC raised M&T Bank Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $174.00 to $186.00 in a report on Tuesday, July 11th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $155.00 price target (up from $152.00) on shares of M&T Bank Corporation in a report on Friday, July 7th. BidaskClub raised M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research downgraded M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th.

Shares of M&T Bank Corporation (NYSE:MTB) traded down 0.46% on Monday, hitting $165.77. 488,030 shares of the stock traded hands. M&T Bank Corporation has a 52-week low of $111.82 and a 52-week high of $173.72. The stock has a market cap of $25.51 billion, a P/E ratio of 20.29 and a beta of 0.77. The stock’s 50 day moving average price is $159.70 and its 200 day moving average price is $159.30.

M&T Bank Corporation (NYSE:MTB) last released its earnings results on Monday, April 17th. The bank reported $2.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.18. M&T Bank Corporation had a net margin of 23.62% and a return on equity of 9.22%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned $1.87 earnings per share. On average, equities analysts expect that M&T Bank Corporation will post $9.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 1st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Tuesday, May 30th. M&T Bank Corporation’s dividend payout ratio is presently 36.67%.

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In other M&T Bank Corporation news, insider Richard S. Gold sold 6,904 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $162.71, for a total value of $1,123,349.84. Following the completion of the transaction, the insider now owns 39,326 shares in the company, valued at $6,398,733.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian E. Hickey sold 2,000 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $162.02, for a total value of $324,040.00. Following the completion of the transaction, the insider now owns 12,169 shares of the company’s stock, valued at approximately $1,971,621.38. The disclosure for this sale can be found here. 3.18% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. Meeder Asset Management Inc. acquired a new position in M&T Bank Corporation during the second quarter valued at about $1,090,000. First United Bank Trust boosted its position in shares of M&T Bank Corporation by 16.1% in the second quarter. First United Bank Trust now owns 6,718 shares of the bank’s stock worth $1,088,000 after buying an additional 933 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of M&T Bank Corporation by 2.9% in the second quarter. Confluence Investment Management LLC now owns 94,694 shares of the bank’s stock worth $15,336,000 after buying an additional 2,699 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in shares of M&T Bank Corporation by 1.8% in the second quarter. Xact Kapitalforvaltning AB now owns 11,392 shares of the bank’s stock worth $1,845,000 after buying an additional 202 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its position in shares of M&T Bank Corporation by 1.9% in the first quarter. Jacobi Capital Management LLC now owns 13,047 shares of the bank’s stock worth $1,988,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

About M&T Bank Corporation

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 Corporation (NYSE:MTB)

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