DA Davidson Increases M&T Bank (NYSE:MTB) Price Target to $207.00

M&T Bank (NYSE:MTB) had its price target raised by investment analysts at DA Davidson from $192.00 to $207.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 6.64% from the company’s current price. DA Davidson also issued estimates for M&T Bank’s FY2024 earnings at $14.48 EPS and FY2025 earnings at $16.36 EPS.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price objective on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada boosted their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $197.47.

M&T Bank Stock Performance

M&T Bank stock opened at $194.12 on Monday. M&T Bank has a 52 week low of $108.53 and a 52 week 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 stock has a market cap of $32.39 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The stock has a 50 day moving average of $174.28 and a 200-day moving average of $159.70.

Insider Activity at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Denis J. Salamone sold 10,000 shares of the firm’s 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 transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,199 shares of company stock worth $4,856,869 in the last three months. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTB. Marshall Wace LLP raised its stake in shares of M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of M&T Bank by 17,784.1% during the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after purchasing an additional 109,550 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of M&T Bank by 195.1% in the 1st quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock worth $19,480,000 after purchasing an additional 83,814 shares during 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.