M&T Bank (MTB) Given a $180.00 Price Target by Wells Fargo & Company Analysts
M&T Bank (NYSE:MTB) received a $180.00 price target from stock analysts at Wells Fargo & Company in a note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s price target suggests a potential upside of 3.51% from the company’s previous close.
A number of other equities research analysts have also issued reports on the stock. Robert W. Baird reaffirmed a “sell” rating and set a $145.00 price objective on shares of M&T Bank in a report on Friday, October 20th. Nomura increased their price objective on shares of M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Citigroup reaffirmed a “neutral” rating and set a $170.00 price objective (up from $160.00) on shares of M&T Bank in a report on Monday, October 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $167.00 price objective on shares of M&T Bank in a report on Friday, September 22nd. Finally, Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $166.41.
Shares of M&T Bank (NYSE MTB) opened at $173.90 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. M&T Bank has a fifty-two week low of $141.12 and a fifty-two week high of $176.62. The stock has a market cap of $26,168.61, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 2.12 and a beta of 0.84.
In other news, VP Michele D. Trolli sold 9,730 shares of M&T Bank stock in a transaction on Friday, October 27th. The stock was sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the completion of the sale, the vice president now directly owns 24,708 shares in the company, valued at $4,148,226.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Randolph Michael Kasum sold 530,000 shares of M&T Bank stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $0.08, for a total value of $42,400.00. Over the last ninety days, insiders have acquired 534,000 shares of company stock valued at $43,440 and have sold 1,712,128 shares valued at $5,604,108. 3.18% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in MTB. Dupont Capital Management Corp bought a new stake in shares of M&T Bank in the second quarter valued at about $140,000. QCI Asset Management Inc. NY raised its holdings in shares of M&T Bank by 0.3% in the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 3 shares in the last quarter. Sun Life Financial INC raised its holdings in M&T Bank by 8,576.9% in the second quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,115 shares in the last quarter. Wedbush Securities Inc. bought a new position in M&T Bank in the third quarter worth about $206,000. Finally, Columbia Asset Management bought a new position in M&T Bank in the third quarter worth about $212,000. Institutional investors and hedge funds own 77.71% of the company’s stock.
TRADEMARK VIOLATION WARNING: “M&T Bank (MTB) Given a $180.00 Price Target by Wells Fargo & Company Analysts” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/12/20/mt-bank-mtb-given-market-perform-rating-at-wells-fargo-company.html.
M&T Bank Company Profile
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.
Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.