M&T Bank Co. (NYSE:MTB) has received a consensus rating of “Buy” from the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $184.80.

Several research analysts recently commented on the company. Morgan Stanley reduced their price objective on M&T Bank from $195.00 to $190.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 18th. Vining Sparks reaffirmed a “buy” rating and issued a $220.00 target price on shares of M&T Bank in a research note on Tuesday, October 9th. Keefe, Bruyette & Woods raised M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Monday, September 3rd. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Finally, Piper Jaffray Companies raised M&T Bank from a “neutral” rating to an “overweight” rating and set a $194.00 target price for the company in a research note on Monday, October 22nd.

In other news, Director Denis J. Salamone sold 25,209 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total transaction of $4,531,569.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sabeth Siddique sold 930 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $164.80, for a total value of $153,264.00. The disclosure for this sale can be found here. Insiders sold a total of 27,873 shares of company stock valued at $4,972,269 over the last ninety days. Corporate insiders own 0.48% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Focused Wealth Management Inc purchased a new position in shares of M&T Bank during the 3rd quarter worth $102,000. Amica Retiree Medical Trust purchased a new position in shares of M&T Bank during the 3rd quarter worth $108,000. Sageworth Trust Co grew its holdings in shares of M&T Bank by 220.0% during the 3rd quarter. Sageworth Trust Co now owns 800 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of M&T Bank by 8,330.0% during the 2nd 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 period. Finally, NEXT Financial Group Inc purchased a new position in shares of M&T Bank during the 3rd quarter worth $165,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

NYSE MTB traded down $0.30 during mid-day trading on Thursday, hitting $168.28. The stock had a trading volume of 50,090 shares, compared to its average volume of 962,028. M&T Bank has a twelve month low of $154.33 and a twelve month high of $197.37. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $23.73 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.07 and a beta of 0.86.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.35 by $0.18. M&T Bank had a return on equity of 13.15% and a net margin of 26.84%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $2.21 EPS. As a group, sell-side analysts predict that M&T Bank will post 13.04 EPS for the current fiscal year.

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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Analyst Recommendations for M&T Bank (NYSE:MTB)

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