Citigroup Raises M&T Bank (NYSE:MTB) Price Target to $225.00

M&T Bank (NYSE:MTB) had its price objective boosted by stock analysts at Citigroup from $215.00 to $225.00 in a report released on Friday,MarketScreener reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price target points to a potential upside of 12.00% from the company’s current price.

A number of other analysts also recently issued reports on MTB. Truist Financial downgraded M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 price target for the company. in a research report on Friday, December 12th. Robert W. Baird raised their target price on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. TD Cowen upped their price target on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a report on Monday, October 20th. Jefferies Financial Group raised their price objective on shares of M&T Bank from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.03.

M&T Bank Stock Performance

M&T Bank stock opened at $200.88 on Friday. The company has a market capitalization of $30.87 billion, a P/E ratio of 12.41, a PEG ratio of 0.96 and a beta of 0.59. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. M&T Bank has a twelve month low of $150.75 and a twelve month high of $208.26. The stock’s 50 day moving average is $193.24 and its 200 day moving average is $193.37.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The company had revenue of $1.54 billion for the quarter. On average, equities research analysts predict that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insider Activity

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the completion of the transaction, the executive vice president directly owned 5,501 shares in the company, valued at $1,054,541.70. This trade represents a 48.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MTB. Canoe Financial LP raised its stake in shares of M&T Bank by 24,443.7% in the 2nd quarter. Canoe Financial LP now owns 295,506 shares of the financial services provider’s stock valued at $57,325,000 after acquiring an additional 294,302 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of M&T Bank by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock worth $196,243,000 after purchasing an additional 187,780 shares during the last quarter. Strs Ohio acquired a new position in shares of M&T Bank during the first quarter worth $29,566,000. Danske Bank A S purchased a new position in M&T Bank in the third quarter valued at $29,612,000. Finally, Russell Investments Group Ltd. raised its stake in M&T Bank by 94.9% in the third quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock valued at $57,879,000 after buying an additional 142,593 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.