Stock On Watch: What’s Ahead for M&T Bank Corporation After Making 52-Week High?

Stock On Watch: What's Ahead 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 $159.96 target or 9.00% above today’s $146.75 share price. The 8 months bullish chart indicates low risk for the $23.26 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $159.96 price target is reached, the company will be worth $2.09 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 1.21M shares traded hands or 3.42% up from the average. 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 $320.17M for 18.16 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. As per Tuesday, October 20, the company rating was maintained by FBR Capital. The company was initiated on Thursday, January 21 by JP Morgan. Citigroup maintained M&T Bank Corporation (NYSE:MTB) on Wednesday, October 21 with “Neutral” rating. Deutsche Bank maintained the shares of MTB in a report on Wednesday, August 12 with “Buy” rating. The rating was maintained by FBR Capital with “Mkt Perform” on Thursday, October 20. FBR Capital maintained the shares of MTB in a report on Thursday, July 21 with “Mkt Perform” rating. The rating was downgraded by Robert W. Baird on Thursday, April 21 to “Underperform”. The rating was initiated by Piper Jaffray on Wednesday, March 30 with “Neutral”. Deutsche Bank maintained M&T Bank Corporation (NYSE:MTB) on Friday, October 9 with “Buy” rating. The firm earned “Overweight” rating on Tuesday, October 20 by Barclays 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 increased, 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.
The New York-based Tocqueville Asset Management Lp has invested 0.12% in M&T Bank Corporation (NYSE:MTB). The Alabama-based Regions Corporation has invested 0.01% in M&T Bank Corporation (NYSE:MTB). Bradley Foster Sargent Ct has invested 0.09% of its portfolio in M&T Bank Corporation (NYSE:MTB). Conning accumulated 3,583 shares or 0.02% of the stock. Checchi Advisers Lc holds 0.02% or 1,412 shares in its portfolio. Smith Graham And Co Inv Advsr Lp, a Texas-based fund reported 33,740 shares. Independent Portfolio Consultants, a Florida-based fund reported 840 shares. Berkshire Asset Mgmt Ltd Pa, a Pennsylvania-based fund reported 115,389 shares. Orrstown Financial reported 3,978 shares or 0.51% of all its holdings. Natl Pension Ser holds 0.11% of its portfolio in M&T Bank Corporation (NYSE:MTB) for 109,020 shares. Ameriprise owns 726,691 shares or 0.05% of their US portfolio. Los Angeles Capital Equity Rech has 0.02% invested in the company for 22,320 shares. Eagle Ridge Inv Mngmt holds 1.08% of its portfolio in M&T Bank Corporation (NYSE:MTB) for 39,975 shares. Evercore Wealth Management Ltd Company holds 0.01% or 1,351 shares in its portfolio. Westpac Bk Corp reported 53,798 shares or 0% of all its holdings.

Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 34 selling transactions for $80.57 million net activity. PEARSON KEVIN J sold $3.65M worth of M&T Bank Corporation (NYSE:MTB) on Thursday, November 10. $58,736 worth of M&T Bank Corporation (NYSE:MTB) was sold by Pfirrman Drew J on Thursday, August 25. On Thursday, August 25 WILMERS ROBERT G sold $11.78M worth of the stock or 100,000 shares. $1.62M worth of M&T Bank Corporation (NYSE:MTB) was sold by Bojdak Robert J on Friday, November 11. HICKEY BRIAN E sold $706,674 worth of M&T Bank Corporation (NYSE:MTB) on Thursday, August 18. Coletti Janet M. sold $742,976 worth of M&T Bank Corporation (NYSE:MTB) on Wednesday, November 9. $1.20 million worth of M&T Bank Corporation (NYSE:MTB) was sold by Todaro Michael J..

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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