M&T Bank (NYSE:MTB) PT Raised to $208.00

M&T Bank (NYSE:MTB) had its target price upped by analysts at Royal Bank of Canada from $190.00 to $208.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 5.29% from the company’s previous close.

MTB has been the subject of a number of other reports. Jefferies Financial Group raised their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Bank of America lifted their price target on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Citigroup increased their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Piper Sandler lifted their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $196.18.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $197.55 on Friday. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75. M&T Bank has a 1-year low of $108.53 and a 1-year high of $200.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $172.93 and a 200-day simple moving average of $158.78.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the previous year, the company earned $5.12 earnings per share. On average, sell-side analysts expect that M&T Bank will post 14.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock valued at $5,115,349 in the last quarter. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds have recently bought and sold shares of MTB. Fisher Asset Management LLC raised its holdings in M&T Bank by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock valued at $2,177,000 after acquiring an additional 439 shares in the last quarter. Quadrature Capital Ltd bought a new stake in M&T Bank during the fourth quarter worth $788,000. GAMMA Investing LLC raised its holdings in shares of M&T Bank by 25.0% during the 1st quarter. GAMMA Investing LLC now owns 1,534 shares of the financial services provider’s stock worth $223,000 after buying an additional 307 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 81 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of M&T Bank by 0.8% in the 1st quarter. Czech National Bank now owns 29,301 shares of the financial services provider’s stock valued at $4,262,000 after purchasing an additional 235 shares in the last quarter. 84.68% of the stock is 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.