M&T Bank Corporation (NYSE:MTB) had its target price boosted by Nomura from $144.00 to $145.00 in a research report released on Thursday morning. Nomura currently has a neutral rating on the bank’s stock.

MTB has been the subject of several other research reports. Sanford C. Bernstein reissued a market perform rating and set a $165.00 target price (down previously from $171.00) on shares of M&T Bank Corporation in a research note on Saturday, September 16th. Zacks Investment Research downgraded M&T Bank Corporation from a buy rating to a hold rating in a research note on Monday, June 19th. BidaskClub downgraded M&T Bank Corporation from a hold rating to a sell rating in a research note on Monday, July 31st. Morgan Stanley reissued 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. Finally, Keefe, Bruyette & Woods set a $160.00 target price on M&T Bank Corporation and gave the stock a hold rating in a research note on Monday, June 19th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $161.41.

Shares of M&T Bank Corporation (MTB) opened at 161.04 on Thursday. 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 cap of $24.47 billion, a PE ratio of 18.85 and a beta of 0.79. M&T Bank Corporation has a 52-week low of $112.25 and a 52-week high of $173.72.

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 analysts predict that M&T Bank Corporation will post $9.27 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, August 30th. M&T Bank Corporation’s dividend payout ratio is presently 35.09%.

M&T Bank Corporation announced that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $900.00 million in shares. This buyback authorization permits the bank to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

In other M&T Bank Corporation news, insider Sabeth Siddique sold 950 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,488 shares of the company’s stock, valued at approximately $218,988.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michele D. Trolli sold 8,908 shares of the stock in a transaction that occurred 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 directly owns 23,091 shares of the company’s stock, valued at approximately $3,792,696.75. The disclosure for this sale can be found here. Insiders have sold a total of 11,058 shares of company stock valued at $1,799,055 in the last three months. Insiders own 3.18% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia increased its position in M&T Bank Corporation by 900.4% during the 1st quarter. Bank of Nova Scotia now owns 35,275 shares of the bank’s stock valued at $5,458,000 after purchasing an additional 31,749 shares during the period. AXA increased its position in M&T Bank Corporation by 13.4% during the 1st quarter. AXA now owns 116,322 shares of the bank’s stock valued at $17,998,000 after purchasing an additional 13,722 shares during the period. Paloma Partners Management Co increased its position in M&T Bank Corporation by 109.3% during the 1st quarter. Paloma Partners Management Co now owns 18,601 shares of the bank’s stock valued at $2,878,000 after purchasing an additional 9,714 shares during the period. Xact Kapitalforvaltning AB increased its position in M&T Bank Corporation by 1.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,392 shares of the bank’s stock valued at $1,845,000 after purchasing an additional 202 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in M&T Bank Corporation by 2.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 26,778 shares of the bank’s stock valued at $4,337,000 after purchasing an additional 758 shares during the period. 78.35% of the stock is owned by institutional investors and hedge funds.

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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