Stock Mover of the Day: What’s Next for M&T Bank Corporation After Making 52-Week High?

Stock Mover of the Day: What's Next for M&T Bank Corporation After Making 52 Week High?

The stock of M&T Bank Corporation (NYSE:MTB) hit a new 52-week high and has $148.72 target or 5.00% above today’s $141.64 share price. The 6 months bullish chart indicates low risk for the $22.17 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $148.72 price target is reached, the company will be worth $1.11 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 404,127 shares traded hands. M&T Bank Corporation (NYSE:MTB) has risen 17.30% since April 20, 2016 and is uptrending. It has outperformed by 12.74% the S&P500.

M&T Bank Corporation (NYSE:MTB) Ratings Coverage

Out of 20 analysts covering M&T Bank (NYSE:MTB), 4 rate it a “Buy”, 1 “Sell”, while 15 “Hold”. This means 20% are positive. M&T Bank has been the topic of 39 analyst reports since August 6, 2015 according to StockzIntelligence Inc. FBR Capital maintained it with “Mkt Perform” rating and $120 target price in Thursday, October 20 report. The stock has “Overweight” rating given by Barclays Capital on Tuesday, October 20. The company was initiated on Tuesday, March 29 by Argus Research. On Wednesday, October 21 the stock rating was maintained by Citigroup with “Neutral”. The firm earned “Neutral” rating on Friday, October 7 by Wedbush. The stock of M&T Bank Corporation (NYSE:MTB) earned “Mkt Perform” rating by FBR Capital on Wednesday, January 20. The stock of M&T Bank Corporation (NYSE:MTB) has “Neutral” rating given on Wednesday, March 30 by Piper Jaffray. The firm has “Neutral” rating by JP Morgan given on Thursday, January 21. The stock has “Neutral” rating given by Sterne Agee CRT on Thursday, August 20. The company was maintained on Friday, October 9 by Deutsche Bank.

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.”

Insitutional Activity: The institutional sentiment increased to 1.17 in Q2 2016. Its up 0.08, from 1.09 in 2016Q1. The ratio is positive, as 41 funds sold all M&T Bank Corporation shares owned while 153 reduced positions. 47 funds bought stakes while 164 increased positions. They now own 122.63 million shares or 2.83% less from 126.20 million shares in 2016Q1.
Winton Capital Gp holds 0.24% or 123,072 shares in its portfolio. Thrivent For Lutherans has 0.27% invested in the company for 482,241 shares. Bnp Paribas Inv Partners owns 17,833 shares or 0.02% of their US portfolio. Moreover, Calvert Mngmt Inc has 0.08% invested in M&T Bank Corporation (NYSE:MTB) for 12,319 shares. Envestnet Asset Mgmt has 0.02% invested in the company for 48,179 shares. Moreover, Nomura Asset Mngmt has 0.04% invested in M&T Bank Corporation (NYSE:MTB) for 17,998 shares. Bb&T Securities Ltd Company holds 0.01% of its portfolio in M&T Bank Corporation (NYSE:MTB) for 3,009 shares. Moreover, Amica Pension Fund Board Of Trustees has 0.12% invested in M&T Bank Corporation (NYSE:MTB) for 7,922 shares. Virginia Retirement Et Al has invested 0.11% of its portfolio in M&T Bank Corporation (NYSE:MTB). Hirtle Callaghan & Limited Co accumulated 0.08% or 3,500 shares. Kimelman & Baird Limited Liability has invested 0.65% of its portfolio in M&T Bank Corporation (NYSE:MTB). Jane Street Gp Ltd Liability Corporation has 0.01% invested in the company for 9,895 shares. Goldman Sachs Group has 2.25 million shares for 0.09% of their US portfolio. Northern Trust Corp owns 1.61M shares or 0.06% of their US portfolio. Euclid Lc holds 0.01% or 1,080 shares in its portfolio.

Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 34 sales for $78.91 million net activity. Another trade for 8,788 shares valued at $1.20 million was sold by Todaro Michael J.. 500 shares with value of $58,736 were sold by Pfirrman Drew J on Thursday, August 25. $122,180 worth of M&T Bank Corporation (NYSE:MTB) was sold by Warman D Scott N on Friday, November 4. The insider HICKEY BRIAN E sold 6,017 shares worth $706,674. Martocci Gino A. sold $929,624 worth of M&T Bank Corporation (NYSE:MTB) on Tuesday, November 8. The insider JONES RENE F sold $1.96M. WILMERS ROBERT G had sold 100,000 shares worth $11.78M on Thursday, August 25.

Another recent and important M&T Bank Corporation (NYSE:MTB) news was published by Prnewswire.com which published an article titled: “M&T Bank Increases Small Business Lending Across its Communities to Become 6th …” on October 31, 2016.

MTB Company Profile

M&T Bank Corporation (M&T), incorporated on November 6, 1969, is a bank holding company. The Firm has over two bank subsidiaries: M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.). The banks collectively offers a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s divisions include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking. The Firm operates approximately 810 domestic banking offices located in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia, a full-service commercial banking office in Ontario, Canada, and an office in George Town, Cayman Islands. The Firm has consolidated total assets of approximately $122.8 billion, deposits of over $92.0 billion and shareholders’ equity of approximately $16.2 billion.

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