M&T Bank Corporation (NYSE:MTB)‘s stock had its “neutral” rating reissued by analysts at Instinet in a note issued to investors on Saturday. They presently have a $145.00 price objective on the bank’s stock, up from their prior price objective of $144.00. Instinet’s price target indicates a potential downside of 9.96% from the company’s previous close.

MTB has been the subject of a number of other reports. BidaskClub upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $174.00 to $186.00 in a research report on Tuesday, July 11th. Zacks Investment Research lowered shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Macquarie cut shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research note on Friday, August 4th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $155.00 target price (up previously from $152.00) on shares of M&T Bank Corporation in a research note on Friday, July 7th. Five research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $161.41.

M&T Bank Corporation (NYSE:MTB) opened at 161.04 on Friday. M&T Bank Corporation has a 52-week low of $112.25 and a 52-week high of $173.72. The firm has a 50-day moving average of $153.96 and a 200-day moving average of $157.97. The firm has a market capitalization of $24.47 billion, a price-to-earnings ratio of 18.85 and a beta of 0.79.

M&T Bank Corporation (NYSE:MTB) last issued its earnings results on Wednesday, July 19th. The bank reported $2.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.08. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. M&T Bank Corporation had a return on equity of 9.48% and a net margin of 24.10%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 earnings per share. On average, equities research analysts forecast that M&T Bank Corporation will post $9.27 EPS for the current fiscal year.

M&T Bank Corporation declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that permits the company to buyback $900.00 million in shares. This buyback authorization permits the bank to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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In other M&T Bank Corporation news, VP Michele D. Trolli sold 8,908 shares of the company’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 sale, the vice president now owns 23,091 shares of the company’s stock, valued at $3,792,696.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabeth Siddique sold 950 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total transaction of $139,811.50. Following the sale, the insider now directly owns 1,488 shares in the company, valued at approximately $218,988.96. The disclosure for this sale can be found here. Insiders have sold 11,058 shares of company stock valued at $1,799,055 in the last three months. 3.18% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of M&T Bank Corporation in the 1st quarter valued at about $101,000. Dupont Capital Management Corp bought a new stake in shares of M&T Bank Corporation during the 2nd quarter valued at about $140,000. QCI Asset Management Inc. NY boosted its position in shares of M&T Bank Corporation by 0.3% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock valued at $171,000 after purchasing an additional 3 shares in the last quarter. Sun Life Financial INC boosted its position in shares of M&T Bank Corporation by 8,576.9% during the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the bank’s stock valued at $183,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its position in shares of M&T Bank Corporation by 5.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock valued at $198,000 after purchasing an additional 62 shares in the last quarter. 78.35% of the stock is owned by hedge funds and other institutional investors.

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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