M&T Bank (NYSE:MTB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

M&T Bank (NYSE:MTB) had its price target hoisted by stock analysts at Wells Fargo & Company from $190.00 to $205.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 4.54% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. Citigroup boosted their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. DA Davidson lifted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Royal Bank of Canada upped their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $199.65.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $214.74 on Friday. The stock has a market capitalization of $35.63 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 2.98 and a beta of 0.74. The firm’s 50-day moving average price is $187.11 and its two-hundred day moving average price is $167.05. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a 1-year low of $123.37 and a 1-year high of $216.84.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities analysts predict that M&T Bank will post 14.56 earnings per share for the current fiscal year.

Insider Transactions at M&T Bank

In related news, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This represents a 20.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the sale, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,854 shares of company stock worth $13,637,588 over the last quarter. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Hedeker Wealth LLC increased its position in M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 55 shares during the period. Frank Rimerman Advisors LLC increased its position in M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 57 shares during the period. Crestwood Advisors Group LLC increased its position in M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 57 shares during the period. Hexagon Capital Partners LLC increased its position in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the period. Finally, Meitav Investment House Ltd. increased its position in M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 69 shares during the period. Institutional investors own 84.68% of the company’s stock.

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.