M&T Bank (NYSE:MTB) Price Target Cut to $245.00 by Analysts at Morgan Stanley

M&T Bank (NYSE:MTB) had its price target reduced by analysts at Morgan Stanley from $271.00 to $245.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 18.03% from the stock’s current price.

A number of other analysts also recently commented on the company. Citigroup boosted their price objective on M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, January 2nd. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Barclays lifted their price objective on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. UBS Group boosted their target price on shares of M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada increased their target price on shares of M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $231.50.

M&T Bank Price Performance

Shares of NYSE:MTB traded up $6.45 during trading on Tuesday, reaching $207.58. The company had a trading volume of 738,047 shares, compared to its average volume of 1,279,488. The firm’s fifty day moving average is $216.73 and its 200 day moving average is $202.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $30.93 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 0.95 and a beta of 0.58. M&T Bank has a twelve month low of $150.75 and a twelve month high of $239.00.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter last year, the business earned $3.77 earnings per share. On average, equities analysts forecast that M&T Bank will post 16.57 EPS for the current year.

Insider Activity

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total transaction of $191,405.73. Following the sale, the insider directly owned 16,446 shares of the company’s stock, valued at $3,548,882.34. The trade was a 5.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Barnes sold 21,193 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $235.85, for a total value of $4,998,369.05. Following the completion of the sale, the director owned 15,142 shares of the company’s stock, valued at $3,571,240.70. The trade was a 58.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,092 shares of company stock worth $11,182,250 in the last quarter. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bank of Jackson Hole Trust grew 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 in the last quarter. Triumph Capital Management acquired a new stake in shares of M&T Bank during the third quarter worth approximately $32,000. Elyxium Wealth LLC purchased a new position in M&T Bank during the fourth quarter valued at approximately $33,000. Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank in the 2nd quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. increased its stake in M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after buying an additional 84 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

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.