M&T Bank (NYSE:MTB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

M&T Bank (NYSE:MTB) had its price target boosted by equities research analysts at The Goldman Sachs Group from $216.00 to $243.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 10.05% from the stock’s previous close.

A number of other equities research analysts have also recently commented on MTB. 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 report on Friday, October 18th. Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Bank of America upped their price target on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Wedbush lifted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $206.41.

M&T Bank Stock Up 0.0 %

Shares of NYSE MTB opened at $220.80 on Tuesday. The business has a 50-day moving average price of $194.82 and a 200 day moving average price of $171.05. The stock has a market cap of $36.64 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 3.13 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a 52-week low of $123.46 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Equities research analysts forecast that M&T Bank will post 14.56 earnings per share for the current year.

Insider Activity at M&T Bank

In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the sale, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,383 shares of company stock valued at $17,925,801 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently bought and sold shares of MTB. Plato Investment Management Ltd boosted its stake in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank during the third quarter valued at approximately $32,000. Hexagon Capital Partners LLC boosted its position in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in M&T Bank in the 2nd quarter worth approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. Hedge funds and other 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.