Vining Sparks Reaffirms Buy Rating for M&T Bank (MTB)

Vining Sparks reaffirmed their buy rating on shares of M&T Bank (NYSE:MTB) in a research report report published on Monday, January 8th. Vining Sparks currently has a $200.00 target price on the financial services provider’s stock.

A number of other equities analysts have also commented on MTB. Sanford C. Bernstein reaffirmed a market perform rating and issued a $165.00 price objective (down previously from $171.00) on shares of M&T Bank in a research note on Saturday, September 16th. Zacks Investment Research raised shares of M&T Bank from a hold rating to a buy rating and set a $168.00 target price for the company in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods restated a hold rating and set a $167.00 price target on shares of M&T Bank in a report on Friday, September 22nd. Nomura raised their price target on shares of M&T Bank from $144.00 to $145.00 and gave the company a neutral rating in a report on Thursday, September 28th. Finally, Instinet reiterated a neutral rating and issued a $145.00 target price (up previously from $144.00) on shares of M&T Bank in a report on Saturday, September 30th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. M&T Bank has an average rating of Hold and a consensus price target of $170.78.

Shares of M&T Bank (MTB) traded up $0.53 during trading hours on Monday, hitting $178.52. 439,500 shares of the company’s stock traded hands, compared to its average volume of 488,778. M&T Bank has a 12 month low of $141.12 and a 12 month high of $179.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $26,870.00, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.26 and a beta of 0.84.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). M&T Bank 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 in the prior year, the business earned $2.10 EPS. sell-side analysts anticipate that M&T Bank will post 9.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, November 30th. M&T Bank’s dividend payout ratio (DPR) is 34.56%.

In other M&T Bank news, VP Michael R. Spychala sold 13,417 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $170.92, for a total value of $2,293,233.64. Following the completion of the sale, the vice president now owns 51,622 shares of the company’s stock, valued at $8,823,232.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the transaction, the director now owns 52,049 shares of the company’s stock, valued at approximately $8,910,268.31. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 141,000 shares of company stock valued at $11,600 and have sold 32,128 shares valued at $5,474,208. Insiders own 3.18% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MTB. Commonwealth Bank of Australia boosted its holdings in M&T Bank by 4.9% during the second quarter. Commonwealth Bank of Australia now owns 2,117 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 99 shares during the last quarter. Eaton Vance Management boosted its holdings in M&T Bank by 7.9% during the second quarter. Eaton Vance Management now owns 49,046 shares of the financial services provider’s stock worth $7,943,000 after purchasing an additional 3,572 shares during the last quarter. HPM Partners LLC acquired a new position in M&T Bank during the second quarter worth $434,000. Riverhead Capital Management LLC boosted its holdings in M&T Bank by 24.4% during the second quarter. Riverhead Capital Management LLC now owns 3,959 shares of the financial services provider’s stock worth $641,000 after purchasing an additional 776 shares during the last quarter. Finally, Hugh Johnson Advisors LLC boosted its holdings in M&T Bank by 10.5% during the second quarter. Hugh Johnson Advisors LLC now owns 2,233 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 212 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

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About M&T Bank

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 (NYSE:MTB)

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