M&T Bank (NYSE:MTB) Earns Overweight Rating from Piper Sandler

M&T Bank (NYSE:MTBGet Free Report)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $164.00 target price on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 11.25% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group increased their price target on shares of M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research report on Tuesday, June 4th. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Wells Fargo & Company raised their target price on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $159.79.

Get Our Latest Analysis on M&T Bank

M&T Bank Trading Down 0.3 %

Shares of MTB stock traded down $0.40 on Friday, hitting $147.42. 371,359 shares of the company’s stock traded hands, compared to its average volume of 1,037,845. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank has a one year low of $108.53 and a one year high of $156.65. The company’s fifty day simple moving average is $147.19 and its 200 day simple moving average is $141.27. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 2.88 and a beta of 0.78.

M&T Bank (NYSE:MTBGet Free Report) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the company earned $4.09 EPS. Equities analysts forecast that M&T Bank will post 14.02 EPS for the current year.

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the sale, the director now owns 35,480 shares of the company’s stock, valued at $5,481,660. The disclosure for this sale can be found here. Insiders sold a total of 97,553 shares of company stock valued at $14,724,147 in the last three months. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Meeder Advisory Services Inc. grew its stake in shares of M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 70 shares during the period. Burns J W & Co. Inc. NY grew its stake in shares of M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after acquiring an additional 80 shares during the period. First Horizon Advisors Inc. grew its stake in shares of M&T Bank by 3.2% in the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 80 shares during the period. Fulton Bank N.A. grew its stake 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 period. Finally, Tritonpoint Wealth LLC grew its stake in shares of M&T Bank by 2.3% in the first quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 87 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

(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.

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