M&T Bank Corporation (NYSE:MTB) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday, July 24th.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $167.00 target price on shares of M&T Bank Corporation in a research report on Friday, July 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $174.00 price objective on shares of M&T Bank Corporation in a report on Monday, May 15th. Zacks Investment Research downgraded M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Evercore ISI reaffirmed an “in-line” rating and set a $177.00 price objective on shares of M&T Bank Corporation in a report on Wednesday, April 19th. Finally, Sandler O’Neill reaffirmed a “hold” rating on shares of M&T Bank Corporation in a report on Wednesday, April 19th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $161.00.

Shares of M&T Bank Corporation (MTB) traded down 0.29% on Monday, hitting $153.43. The company’s stock had a trading volume of 619,503 shares. M&T Bank Corporation has a 1-year low of $112.25 and a 1-year high of $173.72. The firm has a market cap of $23.31 billion, a PE ratio of 17.96 and a beta of 0.77. The company has a 50 day moving average of $161.95 and a 200 day moving average of $160.60.

M&T Bank Corporation (NYSE:MTB) last released its earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.08. M&T Bank Corporation had a return on equity of 9.48% and a net margin of 24.10%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business earned $2.07 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts forecast that M&T Bank Corporation will post $9.27 EPS for the current year.

M&T Bank Corporation announced that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY WARNING: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.thecerbatgem.com/2017/08/19/mt-bank-corporation-mtb-downgraded-to-hold-at-bidaskclub-updated-updated-updated.html.

In other M&T Bank Corporation news, insider Richard S. Gold sold 6,904 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 39,326 shares in the company, valued at approximately $6,398,733.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian E. Hickey sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total transaction of $324,040.00. Following the completion of the transaction, the insider now directly 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. Insiders have sold a total of 19,012 shares of company stock valued at $3,106,633 in the last quarter. Corporate insiders own 3.18% of the company’s stock.

Several institutional investors have recently made changes to their positions in MTB. Parametrica Management Ltd purchased a new position in shares of M&T Bank Corporation during the first quarter valued at about $626,000. TNB Financial purchased a new position in shares of M&T Bank Corporation during the first quarter valued at about $229,000. Capstone Asset Management Co. raised its position in shares of M&T Bank Corporation by 1.2% in the first quarter. Capstone Asset Management Co. now owns 12,489 shares of the bank’s stock valued at $1,932,000 after buying an additional 154 shares during the period. Bank of Montreal Can raised its position in shares of M&T Bank Corporation by 28.5% in the first quarter. Bank of Montreal Can now owns 380,770 shares of the bank’s stock valued at $58,918,000 after buying an additional 84,364 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in shares of M&T Bank Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 44,422 shares of the bank’s stock valued at $6,873,000 after buying an additional 470 shares during the period. 79.57% of the stock is owned by institutional investors.

M&T Bank Corporation Company Profile

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)

Receive News & Stock Ratings for M&T Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Corporation and related stocks with our FREE daily email newsletter.