UBS Group Forecasts Strong Price Appreciation for M&T Bank (NYSE:MTB) Stock

M&T Bank (NYSE:MTB) had its target price raised by UBS Group from $217.00 to $230.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target would indicate a potential downside of 3.44% from the stock’s current price.

Several other equities research analysts have also recently weighed in on MTB. Wells Fargo & Company increased their price objective on M&T Bank from $185.00 to $205.00 and gave the stock an “underweight” rating in a report on Monday, January 5th. TD Cowen restated a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. Cantor Fitzgerald increased their price objective on shares of M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Evercore cut shares of M&T Bank from an “outperform” rating to a “hold” rating and upped their price target for the stock from $210.00 to $225.00 in a research report on Tuesday, January 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of M&T Bank from $230.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $225.45.

M&T Bank Price Performance

MTB stock traded up $4.25 during midday trading on Wednesday, reaching $238.19. 1,265,838 shares of the stock were exchanged, compared to its average volume of 1,307,129. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. M&T Bank has a 52 week low of $150.75 and a 52 week high of $238.54. The stock has a market capitalization of $36.61 billion, a PE ratio of 13.97, a P/E/G ratio of 1.03 and a beta of 0.60. The company has a fifty day moving average price of $209.68 and a 200 day moving average price of $197.48.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the company posted $3.77 earnings per share. As a group, analysts expect that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Transactions at M&T Bank

In related news, Director Kirk W. Walters sold 909 shares of M&T Bank stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the sale, the director owned 5,976 shares of the company’s stock, valued at approximately $1,358,763.12. The trade was a 13.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the sale, the insider owned 16,446 shares of the company’s stock, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,912 shares of company stock valued at $6,489,862 over the last ninety days. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Golden State Wealth Management LLC increased its holdings in M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the period. Bank of Jackson Hole Trust lifted its stake in M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the period. Triumph Capital Management bought a new position in shares of M&T Bank during the 3rd quarter valued at $32,000. Elyxium Wealth LLC bought a new stake in M&T Bank during the fourth quarter valued at approximately $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the second quarter worth about $36,000. 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.