M&T Bank (NYSE:MTB) PT Raised to $210.00 at Wedbush

M&T Bank (NYSE:MTB) had its price objective lifted by research analysts at Wedbush from $208.00 to $210.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Wedbush’s target price points to a potential upside of 20.02% from the stock’s current price.

A number of other equities analysts also recently issued reports on MTB. Piper Sandler raised their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Evercore ISI boosted their price objective on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Jefferies Financial Group raised their target price on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Bank of America upped their price target on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $178.35.

M&T Bank Stock Performance

Shares of NYSE:MTB traded down $2.65 during midday trading on Tuesday, reaching $174.97. 327,980 shares of the company’s stock traded hands, compared to its average volume of 1,021,674. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank has a one year low of $108.53 and a one year high of $180.63. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 3.32 and a beta of 0.76. The stock has a 50 day moving average of $167.85 and a 200 day moving average of $153.83.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the firm posted $5.12 EPS. As a group, equities research analysts anticipate that M&T Bank will post 14.24 EPS for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the transaction, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the transaction, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 over the last 90 days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jump Financial LLC purchased a new stake in M&T Bank during the fourth quarter worth $203,000. Trexquant Investment LP bought a new stake in M&T Bank during the fourth quarter valued at about $737,000. Congress Wealth Management LLC DE purchased a new position in M&T Bank in the fourth quarter valued at about $364,000. Steward Partners Investment Advisory LLC raised its holdings in M&T Bank by 9.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,896 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 346 shares in the last quarter. Finally, TD Asset Management Inc lifted its position in shares of M&T Bank by 5.3% during the fourth quarter. TD Asset Management Inc now owns 61,659 shares of the financial services provider’s stock valued at $8,452,000 after buying an additional 3,090 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

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.