M&T Bank (NYSE:MTB) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Wednesday, The Fly reports.

Several other research firms have also weighed in on MTB. Morgan Stanley reduced their price objective on shares of M&T Bank from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Jefferies Financial Group reissued a “buy” rating and set a $195.00 price objective on shares of M&T Bank in a research note on Friday, July 13th. ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. Sanford C. Bernstein raised shares of M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods raised shares of M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Monday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. M&T Bank presently has an average rating of “Hold” and an average price target of $176.57.

M&T Bank stock opened at $168.59 on Wednesday. M&T Bank has a fifty-two week low of $153.97 and a fifty-two week high of $197.37. The company has a market cap of $24.47 billion, a P/E ratio of 18.03, a PEG ratio of 0.91 and a beta of 0.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.06.

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 the consensus estimate 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $2.35 EPS. analysts expect that M&T Bank will post 12.84 EPS for the current fiscal year.

In other M&T Bank news, Director Denis J. Salamone sold 25,209 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total transaction of $4,531,569.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.48% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC raised its holdings in M&T Bank by 7.5% during the 2nd quarter. FMR LLC now owns 4,251,775 shares of the financial services provider’s stock worth $723,439,000 after buying an additional 297,143 shares during the period. Millennium Management LLC raised its holdings in M&T Bank by 64.8% during the 2nd quarter. Millennium Management LLC now owns 1,341,236 shares of the financial services provider’s stock worth $228,211,000 after buying an additional 527,556 shares during the period. The Manufacturers Life Insurance Company raised its holdings in M&T Bank by 6.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 815,318 shares of the financial services provider’s stock worth $150,311,000 after buying an additional 52,657 shares during the period. Renaissance Technologies LLC raised its holdings in M&T Bank by 15,311.4% during the 2nd quarter. Renaissance Technologies LLC now owns 638,342 shares of the financial services provider’s stock worth $108,614,000 after buying an additional 634,200 shares during the period. Finally, Bank of America Corp DE raised its holdings in M&T Bank by 13.7% during the 2nd quarter. Bank of America Corp DE now owns 618,080 shares of the financial services provider’s stock worth $105,166,000 after buying an additional 74,509 shares during the period. Hedge funds and other institutional investors own 81.19% of the company’s stock.

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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The Fly

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

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