Stock Analysis:M&T Bank (NYSE:MTB) Target Upped
In a note sent to investors and clients by Suntrust Robinson on 10 December, M&T Bank (NYSE:MTB) had its Estimated Target Price increased to $136.00. The firm at present has a solid “Buy” rating on shares.
From a total of 23 analysts covering M&T Bank (NYSE:MTB) stock, 10 rate it a ”Buy”, 0 a “Sell”, and 15 a ”Hold”. This means that 40% of the ratings are positive. The highest target price is $142 while the lowest target price is $115. The mean of all analyst targets is $129.7 with a 6.02% above today’s ($122.33) stock price. M&T Bank was the topic of 25 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Citigroup maintained shares on October 21 with “Neutral” rating. Barclays Capital maintained MTB stock in a recent report from October 20 with “Overweight” rating. Finally, Wood maintained the stock with “Outperform” rating in a report issued on an October 1.
Approximately 310,430 shares of stock traded hands. M&T Bank Corporation (NYSE:MTB) has risen 0.67% since May 7, 2015 and is uptrending. It has outperformed by 2.60% the S&P500.
The overall sentiment of institutions has increased to 1.08 in Q2 2015. Its up 0.01, from 1.07 in 2015Q2. The ratio is positive, as 39 institutions have sold all the shares of M&T Bank Corporation that they owned while 163 funds have taken shares off the table. 35 funds have purchased shares for the first time while 184 added to their positions. These institutions now hold 103.87 million shares or 6.24% less than the 110.79 million shares they owned in 2015Q2.
The Fund Wedgewood Partners Inc currently is holding shares equating to 6.3% of its total portfolio in M&T Bank Corporation representing a total of 3.55 million shares. Another fund,Speece Thorson Capital Group Inc, is holding a total of 129,884 shares equating to 3.94% of their holdings. Additionally, Nexus Investment Management Inc. has a 127,950 share stake in M&T Bank Corporation which represents 3.26% of their total portfolio. The Fund, Skba Capital Management Llc, based out of California, has also built up a stake in the stock, which represents a total of 2.66% of their total portfolio. Finally Lesa Sroufe & Co, a fund which is based in the state of Washington reported a total holdings of 26,473 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of M&T Bank Corporation have witnessed 0 insider purchases, and a total of 5 sales equating to a net activity of approximately $4.21 million . Hickey Brian E sold 7,796 shares worth approximately $1.04M. Martocci Gino A. sold 500 shares worth approximately $66,060. Dangelo John L sold 2,670 shares worth approximately $354,440. Trolli Michele D sold 20,463 shares worth approximately $2.64 million. The company insider Warman D Scott N sold 915 shares worth $115,569.
M&T Bank Corporation is a bank holding firm for M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.). The company has a market cap of $21.51 billion. The Company’s divisions include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking. It has 16.37 P/E ratio. The Business Banking segment provides deposit, lending, cash management and other financial services.
According to Zacks Investment Research, “M&T Bank Corp is a bank holding company. They have two primary bank subsidiaries: Manufacturers and Traders Trust Company and M&T Bank, National Association. The banks collectively offer a wide range of commercial banking, trust and investment services to their customers. From time to time, M&T Bank considers acquiring banks, thrift institutions, branch offices or other businesses within markets currently served or in other nearby markets.” Get a free copy of the Zacks research report on M&T Bank Corporation (MTB).