BidaskClub downgraded shares of M&T Bank Corporation (NYSE:MTB) from a hold rating to a sell rating in a research note published on Monday.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reissued a hold rating and issued a $167.00 price target on shares of M&T Bank Corporation in a report on Friday, July 21st. Jefferies Group LLC reissued a hold rating and issued a $174.00 price target on shares of M&T Bank Corporation in a report on Monday, May 15th. Zacks Investment Research lowered shares of M&T Bank Corporation from a buy rating to a hold rating in a report on Monday, April 24th. Sandler O’Neill reissued a hold rating on shares of M&T Bank Corporation in a report on Wednesday, April 19th. Finally, Barclays PLC boosted their price target on shares of M&T Bank Corporation from $172.00 to $175.00 and gave the stock an overweight rating in a report on Wednesday, April 19th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. M&T Bank Corporation currently has a consensus rating of Hold and a consensus price target of $160.40.

M&T Bank Corporation (NYSE MTB) traded down 0.69% during mid-day trading on Monday, hitting $163.79. 608,353 shares of the stock were exchanged. M&T Bank Corporation has a 52 week low of $112.17 and a 52 week high of $173.72. The stock has a market capitalization of $24.98 billion, a PE ratio of 20.05 and a beta of 0.77. The company has a 50-day moving average of $162.23 and a 200-day moving average of $160.51.

M&T Bank Corporation (NYSE:MTB) last posted its earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.08. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. M&T Bank Corporation had a net margin of 24.10% and a return on equity of 9.48%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 EPS. On average, equities analysts predict that M&T Bank Corporation will post $9.27 EPS for the current fiscal year.

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M&T Bank Corporation announced that its board has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $900.00 million in shares. This buyback authorization allows the bank to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, insider Richard S. Gold sold 6,904 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the transaction, the insider now owns 39,326 shares of the company’s stock, valued at approximately $6,398,733.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian E. Hickey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total transaction of $324,040.00. Following the transaction, the insider now directly owns 12,169 shares in the company, valued at approximately $1,971,621.38. The disclosure for this sale can be found here. 3.18% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. boosted its position in shares of M&T Bank Corporation by 4.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 413,011 shares of the bank’s stock valued at $64,608,000 after buying an additional 17,299 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of M&T Bank Corporation by 14.0% in the fourth quarter. Macquarie Group Ltd. now owns 4,900 shares of the bank’s stock valued at $767,000 after buying an additional 600 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of M&T Bank Corporation by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 136,512 shares of the bank’s stock valued at $21,122,000 after buying an additional 3,343 shares during the last quarter. Confluence Investment Management LLC boosted its position in shares of M&T Bank Corporation by 4.2% in the first quarter. Confluence Investment Management LLC now owns 91,995 shares of the bank’s stock valued at $14,234,000 after buying an additional 3,715 shares during the last quarter. Finally, Creative Planning boosted its position in shares of M&T Bank Corporation by 0.7% in the first quarter. Creative Planning now owns 10,812 shares of the bank’s stock valued at $1,673,000 after buying an additional 74 shares during the last quarter. 79.70% of the stock is currently owned by hedge funds and other institutional investors.

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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