M&T Bank Corporation (MTB) is Initiated by Wedbush to Neutral, Price Target at $117

M&T Bank Corporation (MTB) was Initiated by Wedbush to “Neutral” and the brokerage firm has set the Price Target at $117. Wedbush advised their investors in a research report released on Oct 7, 2016.

Many Wall Street Analysts have commented on M&T Bank Corporation. Shares were Reiterated by FBR Capital on Jul 21, 2016 to “Mkt Perform” and Lowered the Price Target to $ 105 from a previous price target of $120 .

On the company’s financial health, M&T Bank Corporation reported $2.07 EPS for the quarter, based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus estimate of $2.07. The company had revenue of $1312.00 million for the quarter, compared to analysts expectations of $1319.82 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS.

M&T Bank Corporation opened for trading at $115.68 and hit $117.13 on the upside on Tuesday, eventually ending the session at $116.48, with a gain of 1.11% or 1.28 points. The heightened volatility saw the trading volume jump to 5,40,293 shares. Company has a market cap of $18,260 M.

In a different news, on Aug 31, 2016, Robert G Wilmers (Chairman of the Board and CEO) sold 100,000 shares at $118.35 per share price. According to the SEC, on Aug 29, 2016, Michele D Trolli (Exec. VP & Chief Info. Officer) sold 5,000 shares at $117.88 per share price. On Aug 29, 2016, Kevin J Pearson (Executive Vice President) sold 33,379 shares at $116.75 per share price, according to the Form-4 filing with the securities and exchange commission.

M&T Bank Corporation (M&T) is a bank holding company for M&T Bank and Wilmington Trust National Association (Wilmington Trust N.A.). The Company’s segments include Business Banking Commercial Banking Commercial Real Estate Discretionary Portfolio Residential Mortgage Banking and Retail Banking. The Business Banking segment provides deposit lending cash management and other financial services. The Commercial Banking segment offers credit products and banking services for middle-market and commercial customers. Its Commercial Real Estate segment provides credit and deposit services. The Discretionary Portfolio segment includes investment and trading securities loans and other assets and borrowed funds. The Residential Mortgage Banking segment originates and services residential mortgage loans. The Retail Banking segment offers a range of services to consumers through delivery channels. It operates over 800 retail and commercial branches and 1600 automated teller machines.

M&T Bank Corporation

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