Somewhat Favorable Media Coverage Somewhat Unlikely to Impact M&T Bank (MTB) Share Price
News headlines about M&T Bank (NYSE:MTB) have been trending somewhat positive on Wednesday, Accern Sentiment reports. The research firm identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. M&T Bank earned a news sentiment score of 0.11 on Accern’s scale. Accern also assigned media coverage about the financial services provider an impact score of 46.1484397463707 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern’s rankings:
- Carballada tapped as M&T charitable and community relations manager (rbj.net)
- Maryland's biggest banks competing for billions in state's deposits (finance.yahoo.com)
- M&T Bank Corporation (NYSE:MTB): Ex-Dividend Is In 2 Days, Should You Buy? (finance.yahoo.com)
- Guaranty Bank details post-merger ‘golden parachute’ compensation for top execs (bizjournals.com)
- Woman arrested after Main St. bank robbery (wivb.com)
Several research analysts have weighed in on the stock. ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Wedbush increased their target price on shares of M&T Bank from $190.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, July 19th. Morgan Stanley increased their price target on shares of M&T Bank from $191.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, July 20th. Finally, Sanford C. Bernstein raised shares of M&T Bank from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 27th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. M&T Bank has an average rating of “Hold” and a consensus target price of $179.27.
M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.17 by $0.09. M&T Bank had a net margin of 24.57% and a return on equity of 11.80%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company earned $2.35 earnings per share. analysts predict that M&T Bank will post 12.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, August 31st. This represents a $4.00 dividend on an annualized basis and a yield of 2.25%. This is a boost from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s dividend payout ratio (DPR) is presently 34.22%.
In other M&T Bank news, insider Robert J. Bojdak sold 1,570 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $177.93, for a total transaction of $279,350.10. Following the sale, the insider now owns 20,501 shares of the company’s stock, valued at $3,647,742.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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