M&T Bank Corporation (MTB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of M&T Bank Corporation (NYSE:MTB) from a buy rating to a hold rating in a research report released on Monday morning.

According to Zacks, “M&T Bank’s shares outperformed the Zacks categorized Regional Banks-Major industry over the past six months. The company’s top-line growth looks encouraging given its diverse fee income base, and consistent rise in deposit and loan growth amid an improving economy. Also, the company raised its prime lending rate to 4.25%, following the latest Fed interest rate hike reflecting gradual easing of margin pressure. M&T Bank’s involvement in steady capital deployment activities reflects its strong capital position. Further, the approval of the Financial Choice Act will support its profitability. Nevertheless, mounting costs resulting from ongoing investments remain a hindrance for the bottom line growth.”

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada reiterated a buy rating and set a $168.00 target price on shares of M&T Bank Corporation in a research report on Tuesday, April 4th. ValuEngine upgraded M&T Bank Corporation from a hold rating to a buy rating in a research report on Friday, June 2nd. Morgan Stanley reiterated 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. Jefferies Group LLC reiterated a hold rating and set a $174.00 target price on shares of M&T Bank Corporation in a research report on Monday, May 15th. Finally, Sandler O’Neill reiterated a hold rating on shares of M&T Bank Corporation in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. M&T Bank Corporation currently has a consensus rating of Hold and a consensus target price of $154.27.

Shares of M&T Bank Corporation (NYSE:MTB) traded down 0.38% on Monday, hitting $162.05. The stock had a trading volume of 81,597 shares. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 19.84 and a beta of 0.76. M&T Bank Corporation has a 12-month low of $108.04 and a 12-month high of $173.72. The stock has a 50 day moving average price of $159.37 and a 200-day moving average price of $158.86.

M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings results on Monday, April 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.18. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.34 billion. M&T Bank Corporation had a return on equity of 9.22% and a net margin of 23.62%. During the same quarter in the previous year, the firm posted $1.87 EPS. On average, equities analysts expect that M&T Bank Corporation will post $9.13 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://www.tickerreport.com/banking-finance/2655621/mt-bank-corporation-mtb-downgraded-by-zacks-investment-research-to-hold.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 1st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, May 30th. M&T Bank Corporation’s dividend payout ratio is currently 36.67%.

In related news, insider Richard S. Gold sold 6,904 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $162.71, for a total value of $1,123,349.84. Following the sale, the insider now owns 39,326 shares of the company’s stock, valued at approximately $6,398,733.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian E. Hickey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total value of $324,040.00. Following the completion of the sale, the insider now directly owns 12,169 shares in the company, valued at approximately $1,971,621.38. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in M&T Bank Corporation by 2,979.3% in the first quarter. BlackRock Inc. now owns 10,159,175 shares of the bank’s stock worth $1,571,928,000 after buying an additional 9,829,252 shares during the last quarter. JPMorgan Chase & Co. raised its stake in M&T Bank Corporation by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 5,672,025 shares of the bank’s stock worth $877,633,000 after buying an additional 114,924 shares during the last quarter. Geode Capital Management LLC raised its stake in M&T Bank Corporation by 8.4% in the first quarter. Geode Capital Management LLC now owns 1,512,637 shares of the bank’s stock worth $233,725,000 after buying an additional 116,992 shares during the last quarter. American Century Companies Inc. raised its stake in M&T Bank Corporation by 0.4% in the first quarter. American Century Companies Inc. now owns 1,473,607 shares of the bank’s stock worth $228,011,000 after buying an additional 6,491 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in M&T Bank Corporation by 8.5% in the first quarter. Wells Fargo & Company MN now owns 1,453,111 shares of the bank’s stock worth $224,841,000 after buying an additional 113,812 shares during the last quarter. 79.24% of the stock is currently 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.

Get a free copy of the Zacks research report on M&T Bank Corporation (MTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for M&T Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Blue Apron Filed Thursday for Public Offering
Blue Apron Filed Thursday for Public Offering
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Large Auto Lender Checked Just 8% of Incomes for Applicants
Large Auto Lender Checked Just 8% of Incomes for Applicants


Leave a Reply

© 2006-2017 Ticker Report. Google+.