M&T Bank (NYSE:MTB) Price Target Raised to $170.00

M&T Bank (NYSE:MTB) had its target price hoisted by equities research analysts at Keefe, Bruyette & Woods from $162.00 to $170.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 23.73% from the company’s current price.

MTB has been the topic of several other reports. Piper Sandler reduced their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. Barclays boosted their price target on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group dropped their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Wells Fargo & Company boosted their price target on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Bank of America boosted their price target on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $157.98.

M&T Bank Stock Down 2.5 %

Shares of MTB stock traded down $3.54 during mid-day trading on Tuesday, hitting $137.40. The stock had a trading volume of 136,304 shares, compared to its average volume of 1,201,512. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.23. The firm has a market capitalization of $22.89 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. The firm’s 50-day moving average is $139.33 and its two-hundred day moving average is $132.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period in the previous year, the firm posted $4.09 earnings per share. On average, analysts predict that M&T Bank will post 13.89 earnings per share for the current fiscal year.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,481 shares of company stock worth $5,114,624. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of MTB. Clear Street Markets LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth about $25,000. HHM Wealth Advisors LLC acquired a new position in M&T Bank in the 4th quarter valued at about $25,000. General Partner Inc. acquired a new position in M&T Bank in the 1st quarter valued at about $27,000. RVW Wealth LLC acquired a new position in M&T Bank in the 3rd quarter valued at about $27,000. Finally, Quarry LP acquired a new position in M&T Bank in the 1st quarter valued at about $27,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.