Stock of The Day: M&T Bank Corporation’s Stock Is Buy After Achieving Record High

Stock of The Day: M&T Bank Corporation's Stock Is Buy After Achieving Record High

The stock of M&T Bank Corporation (NYSE:MTB) reached all time high today, Dec, 1 and still has $152.53 target or 5.00% above today’s $145.27 share price. This indicates more upside for the $23.03 billion company. This technical setup was reported by Barchart.com. If the $152.53 PT is reached, the company will be worth $1.15 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 264,715 shares traded hands. M&T Bank Corporation (NYSE:MTB) has risen 20.82% since April 28, 2016 and is uptrending. It has outperformed by 14.89% the S&P500.

Analysts await M&T Bank Corporation (NYSE:MTB) to report earnings on January, 17. They expect $2.02 earnings per share, up 22.42% or $0.37 from last year’s $1.65 per share. MTB’s profit will be $320.24 million for 17.98 P/E if the $2.02 EPS becomes a reality. After $2.13 actual earnings per share reported by M&T Bank Corporation for the previous quarter, Wall Street now forecasts -5.16% negative EPS growth.

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 40 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Wedbush initiated the shares of MTB in a report on Friday, October 7 with “Neutral” rating. Portales downgraded the stock to “Sector Perform” rating in Thursday, April 21 report. Wood maintained it with “Outperform” rating and $135 target price in Thursday, October 1 report. Keefe Bruyette & Woods downgraded it to “Market Perform” rating and $129 target price in Wednesday, October 21 report. Argus Research initiated the stock with “Hold” rating in Tuesday, March 29 report. JP Morgan initiated the stock with “Neutral” rating in Thursday, January 21 report. Deutsche Bank maintained M&T Bank Corporation (NYSE:MTB) rating on Wednesday, August 12. Deutsche Bank has “Buy” rating and $150 price target. The stock has “Mkt Perform” rating given by FBR Capital on Tuesday, October 20. The company was maintained on Wednesday, November 30 by Wedbush. The stock of M&T Bank Corporation (NYSE:MTB) has “Mkt Perform” rating given on Wednesday, January 20 by FBR Capital.

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 improved, 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.
Wellington Shields Co Llc has invested 0.13% of its portfolio in M&T Bank Corporation (NYSE:MTB). Hsbc Public Ltd Company has 96,112 shares for 0.03% of their US portfolio. Alpine Woods Investors Ltd has 0.5% invested in the company for 71,005 shares. Gateway Invest Advisers Limited Liability has 28,515 shares for 0.03% of their US portfolio. First Niagara Savings Bank reported 3,640 shares or 0.12% of all its holdings. Violich accumulated 0.07% or 1,801 shares. Pictet Asset holds 0.04% of its portfolio in M&T Bank Corporation (NYSE:MTB) for 76,096 shares. United Ser Automobile Association has 0.06% invested in the company for 135,694 shares. Aperio Gp Ltd Limited Liability Company, a California-based fund reported 46,428 shares. Capital Impact Advsr Ltd Liability Company holds 0.41% of its portfolio in M&T Bank Corporation (NYSE:MTB) for 7,439 shares. The Quebec – Canada-based Jarislowsky Fraser Ltd has invested 0.3% in M&T Bank Corporation (NYSE:MTB). Moreover, Independent Consultants has 0.03% invested in M&T Bank Corporation (NYSE:MTB) for 840 shares. New Mexico Educational Retirement Board has 0.1% invested in the company for 18,490 shares. Aqr Cap Lc holds 267,064 shares or 0.06% of its portfolio. Qcm Cayman Limited, a Texas-based fund reported 1,754 shares.

Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 34 sales for $80.57 million net activity. Martocci Gino A. sold $139,145 worth of M&T Bank Corporation (NYSE:MTB) on Monday, November 14. WILMERS ROBERT G had sold 100,000 shares worth $11.78M on Thursday, August 25. Bojdak Robert J also sold $135,215 worth of M&T Bank Corporation (NYSE:MTB) shares. Another trade for 8,430 shares valued at $1.13M was made by JONES RENE F on Thursday, November 10. $122,180 worth of M&T Bank Corporation (NYSE:MTB) shares were sold by Warman D Scott N. CZARNECKI MARK J sold $11.37M worth of stock. Another trade for 2,974 shares valued at $407,260 was made by DAngelo John L on Wednesday, November 16.

Another recent and important M&T Bank Corporation (NYSE:MTB) news was published by Seekingalpha.com which published an article titled: “M&T Bank: Remaining Neutral As Margin Pressure Ahead” on November 30, 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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