Somewhat Favorable Press Coverage Somewhat Unlikely to Impact M&T Bank Corporation (MTB) Share Price
Press coverage about M&T Bank Corporation (NYSE:MTB) has trended somewhat positive this week, according to Accern. The research firm identifies positive and negative media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. M&T Bank Corporation earned a daily sentiment score of 0.07 on Accern’s scale. Accern also gave news coverage about the bank an impact score of 45.3073004572245 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the media headlines that may have impacted Accern’s scoring:
- Steelers vs. Ravens Final Score: Steelers break M&T Bank Stadium curse with 26-9 win (msn.com)
- Instant analysis from the Ravens’ 26-9 loss to the Steelers at M&T Bank Stadium (baltimoresun.com)
- Random Thoughts From a Black-and-gold Mind: 99.5% politics-free edition (behindthesteelcurtain.com)
- Tens Of Thousands Sign Petition To Have Ray Lewis Statue Removed From M&T Bank Stadium (baltimore.cbslocal.com)
- M&T Bank Corporation (MTB) Stock Rating Reaffirmed by Instinet (americanbankingnews.com)
MTB has been the subject of a number of research reports. Morgan Stanley restated an “equal weight” rating and set a $152.00 target price on shares of M&T Bank Corporation in a research report on Tuesday, June 6th. BidaskClub upgraded shares of M&T Bank Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research cut shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Keefe, Bruyette & Woods set a $160.00 price target on shares of M&T Bank Corporation and gave the stock a “hold” rating in a research note on Monday, June 19th. Finally, Instinet dropped their price objective on shares of M&T Bank Corporation from $148.00 to $144.00 and set a “neutral” rating for the company in a report on Friday, June 30th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $161.41.
Shares of M&T Bank Corporation (MTB) opened at 161.04 on Monday. M&T Bank Corporation has a 52 week low of $112.25 and a 52 week high of $173.72. The stock has a 50 day moving average of $153.96 and a 200 day moving average of $157.97. The stock has a market cap of $24.47 billion, a P/E ratio of 18.85 and a beta of 0.79.
M&T Bank Corporation (NYSE:MTB) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.08. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. M&T Bank Corporation had a return on equity of 9.48% and a net margin of 24.10%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 earnings per share. On average, analysts expect that M&T Bank Corporation will post $9.27 earnings per share for the current year.
M&T Bank Corporation declared that its board has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $900.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Wednesday, August 30th. M&T Bank Corporation’s dividend payout ratio (DPR) is presently 35.09%.
In related news, insider Sabeth Siddique sold 950 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total value of $139,811.50. Following the completion of the sale, the insider now owns 1,488 shares of the company’s stock, valued at $218,988.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michele D. Trolli sold 8,908 shares of the company’s stock in a transaction dated 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 completion of 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. In the last quarter, insiders have sold 11,058 shares of company stock worth $1,799,055. Insiders own 3.18% of the company’s stock.
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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.
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