M&T Bank Co. (NYSE:MTB) has been given a consensus recommendation of “Hold” by the eighteen brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $184.33.
A number of analysts have commented on MTB shares. Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $199.00 price target for the company in a research note on Thursday, April 19th. Robert W. Baird upgraded shares of M&T Bank from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 18th. Piper Jaffray Companies reiterated a “hold” rating and issued a $190.00 target price on shares of M&T Bank in a research note on Tuesday, April 17th. Morgan Stanley upped their target price on shares of M&T Bank from $190.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 18th. Finally, Wedbush upped their target price on shares of M&T Bank from $190.00 to $193.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 17th.
MTB stock traded down $1.98 during midday trading on Tuesday, reaching $173.96. 745,822 shares of the company’s stock traded hands, compared to its average volume of 996,881. The firm has a market capitalization of $25.30 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58. M&T Bank has a 52 week low of $141.12 and a 52 week high of $197.37.
M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 EPS for the quarter, beating the Zacks’ consensus estimate of $3.17 by $0.09. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. M&T Bank had a net margin of 24.57% and a return on equity of 11.80%. During the same quarter in the previous year, the business posted $2.35 EPS. equities analysts predict that M&T Bank will post 12.84 earnings per share for the current fiscal year.
In related news, insider Robert J. Bojdak sold 1,570 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $177.93, for a total value of $279,350.10. Following the transaction, the insider now directly owns 20,501 shares of the company’s stock, valued at approximately $3,647,742.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Private Capital Group LLC increased its position in shares of M&T Bank by 728.4% in the first quarter. Private Capital Group LLC now owns 613 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 539 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of M&T Bank by 8,330.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 843 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 833 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of M&T Bank in the second quarter worth approximately $171,000. Northstar Asset Management LLC bought a new position in shares of M&T Bank in the first quarter worth approximately $204,000. Finally, Fisher Asset Management LLC bought a new position in shares of M&T Bank in the first quarter worth approximately $204,000. 79.01% of the stock is currently owned by institutional investors.
M&T Bank Company Profile
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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