Somewhat Favorable News Coverage Somewhat Unlikely to Impact M&T Bank (NYSE:MTB) Share Price
News headlines about M&T Bank (NYSE:MTB) have been trending somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. M&T Bank earned a media sentiment score of 0.17 on Accern’s scale. Accern also gave media headlines about the financial services provider an impact score of 45.6076383130508 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news stories that may have effected Accern’s analysis:
- Tuesdays Under 250: Renovated Pigtown Rowhome a Few Blocks from M&T Bank Stadium (southbmore.com)
- Visions to replace M&T as on-campus bank (bupipedream.com)
- Bank execs’ fraud trial starts (nwaonline.com)
- Bank of Texas’ parent to expand mortgage servicing, brings on former BofA exec (bizjournals.com)
- M&T Bank Co. (MTB) Receives Average Recommendation of “Hold” from Brokerages (americanbankingnews.com)
Shares of M&T Bank (NYSE MTB) opened at $193.05 on Wednesday. M&T Bank has a twelve month low of $141.12 and a twelve month high of $197.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $29,270.98, a PE ratio of 22.22, a PEG ratio of 1.24 and a beta of 0.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Monday, March 5th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.55%. M&T Bank’s dividend payout ratio (DPR) is 34.52%.
M&T Bank announced that its Board of Directors has initiated a stock buyback program on Monday, February 5th that permits the company to repurchase $745.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
A number of brokerages recently commented on MTB. Jefferies Group reaffirmed a “buy” rating and issued a $201.00 target price on shares of M&T Bank in a report on Monday, January 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of M&T Bank in a report on Tuesday, February 6th. Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Wedbush reissued a “neutral” rating and set a $186.00 price target (up from $180.00) on shares of M&T Bank in a report on Tuesday, February 6th. Finally, Vining Sparks reissued a “buy” rating and set a $200.00 price target on shares of M&T Bank in a report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. M&T Bank currently has a consensus rating of “Hold” and an average price target of $176.41.
In other news, Director Gary N. Geisel sold 1,046 shares of M&T Bank stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $170.49, for a total value of $178,332.54. Following the sale, the director now directly owns 17,586 shares of the company’s stock, valued at $2,998,237.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider D Scott N. Warman sold 22,083 shares of M&T Bank stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $187.97, for a total value of $4,150,941.51. Following the completion of the sale, the insider now directly owns 33,941 shares in the company, valued at $6,379,889.77. The disclosure for this sale can be found here. Insiders sold 72,137 shares of company stock worth $13,578,138 over the last ninety days. Insiders own 0.48% of the company’s stock.
About M&T Bank
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.
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