M&T Bank (NYSE:MTB) Price Target Raised to $170.00

M&T Bank (NYSE:MTBGet Free Report) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $160.00 to $170.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 22.26% from the company’s current price.

Other research analysts also recently issued reports about the company. Piper Sandler cut their price objective on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. DA Davidson reissued a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price objective on the stock. in a research note on Monday, December 18th. UBS Group upped their target price on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $151.60.

Read Our Latest Research Report on M&T Bank

M&T Bank Trading Down 1.1 %

Shares of M&T Bank stock opened at $139.05 on Thursday. The company has a 50-day moving average of $139.39 and a two-hundred day moving average of $131.90. The stock has a market cap of $23.17 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.23.

M&T Bank (NYSE:MTBGet Free Report) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.36). The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period in the prior year, the firm posted $4.57 earnings per share. On average, research analysts anticipate that M&T Bank will post 13.88 EPS for the current fiscal year.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,481 shares of company stock valued at $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clear Street Markets LLC acquired a new position in shares of M&T Bank during the 4th quarter valued at $25,000. HHM Wealth Advisors LLC acquired a new stake in M&T Bank during the 4th quarter worth about $25,000. General Partner Inc. purchased a new stake in M&T Bank during the first quarter valued at about $27,000. Stonebridge Capital Advisors LLC boosted its holdings in shares of M&T Bank by 1,980.0% in the second quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock worth $26,000 after buying an additional 198 shares during the period. Finally, RVW Wealth LLC purchased a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $27,000. 84.68% of the stock is currently owned by institutional investors.

About M&T Bank

(Get Free Report)

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.

Further Reading

Analyst Recommendations for M&T Bank (NYSE:MTB)

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