M&T Bank (NYSE:MTB) Stock Price Expected to Rise, Morgan Stanley Analyst Says

M&T Bank (NYSE:MTB) had its target price raised by equities research analysts at Morgan Stanley from $245.00 to $253.00 in a report released on Monday,MarketScreener 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 6.83% from the stock’s current price.

A number of other equities research analysts also recently commented on MTB. Argus lifted their price objective on M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, April 17th. DA Davidson increased their target price on M&T Bank from $233.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Jefferies Financial Group raised their price target on M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Cantor Fitzgerald lowered their price target on M&T Bank from $255.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $236.00.

M&T Bank Stock Down 0.2%

Shares of NYSE MTB opened at $236.83 on Monday. M&T Bank has a 1 year low of $174.76 and a 1 year high of $239.00. The firm’s 50 day moving average price is $218.54 and its 200 day moving average price is $215.16. The firm has a market cap of $34.68 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.16 and a beta of 0.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.94 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.16. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.43 billion. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.During the same period in the previous year, the firm posted $3.32 EPS. As a group, sell-side analysts anticipate that M&T Bank will post 18.8 earnings per share for the current year.

M&T Bank declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 31st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 16.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 3,105 shares of M&T Bank stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total value of $672,232.50. Following the transaction, the executive vice president owned 6,753 shares in the company, valued at approximately $1,462,024.50. This trade represents a 31.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in shares of M&T Bank by 64.0% in the 3rd quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock valued at $7,157,000 after acquiring an additional 14,135 shares during the period. Delphi Management Inc. MA acquired a new position in shares of M&T Bank during the 4th quarter valued at $1,524,000. Entropy Technologies LP purchased a new stake in M&T Bank during the 3rd quarter worth $4,571,000. LSV Asset Management boosted its position in M&T Bank by 14.5% during the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after purchasing an additional 49,500 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in M&T Bank by 101.8% in the 3rd quarter. B. Metzler seel. Sohn & Co. AG now owns 31,910 shares of the financial services provider’s stock valued at $6,306,000 after purchasing an additional 16,101 shares in the last quarter. 84.68% of the stock is currently 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.