M&T Bank Corporation (NYSE:MTB) Earns “Sell” Rating from Robert W. Baird – The Ledger Gazette


M&T Bank Corporation (NYSE:MTB)‘s stock had its “sell” rating reiterated by Robert W. Baird in a research note issued to investors on Friday, October 20th. They presently have a $145.00 price objective on the bank’s stock. Robert W. Baird’s price objective indicates a potential downside of 13.60% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Citigroup Inc. reiterated a “neutral” rating and issued a $170.00 target price (up previously from $160.00) on shares of M&T Bank Corporation in a report on Monday, October 9th. Instinet reiterated a “neutral” rating and issued a $145.00 target price (up previously from $144.00) on shares of M&T Bank Corporation in a report on Saturday, September 30th. Nomura raised their price objective on M&T Bank Corporation from $144.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, September 28th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $167.00 price objective on shares of M&T Bank Corporation in a research report on Friday, September 22nd. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $161.89.

Shares of M&T Bank Corporation (NYSE MTB) opened at 167.82 on Friday. The company’s 50-day moving average price is $158.73 and its 200 day moving average price is $158.49. The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 19.64 and a beta of 0.78. M&T Bank Corporation has a 12-month low of $120.31 and a 12-month high of $173.72.

M&T Bank Corporation (NYSE:MTB) last announced its earnings results on Wednesday, October 18th. The bank reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company posted $2.10 EPS. On average, equities analysts predict that M&T Bank Corporation will post $9.09 earnings per share for the current year.

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In other news, VP Michele D. Trolli sold 8,908 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $164.25, for a total transaction of $1,463,139.00. Following the transaction, the vice president now directly owns 23,091 shares in the company, valued at approximately $3,792,696.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert J. Bojdak sold 1,200 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $163.42, for a total transaction of $196,104.00. Following the transaction, the insider now owns 20,217 shares in the company, valued at $3,303,862.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,058 shares of company stock worth $1,799,055. Company insiders own 3.18% of the company’s stock.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new stake in M&T Bank Corporation in the first quarter worth $101,000. Dupont Capital Management Corp bought a new stake in M&T Bank Corporation in the second quarter worth $140,000. QCI Asset Management Inc. NY boosted its holdings in M&T Bank Corporation by 0.3% in the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock worth $171,000 after purchasing an additional 3 shares in the last quarter. Sun Life Financial INC boosted its holdings in M&T Bank Corporation by 8,576.9% in the second quarter. Sun Life Financial INC now owns 1,128 shares of the bank’s stock worth $183,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its holdings in M&T Bank Corporation by 5.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock worth $198,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 78.37% 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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