M&T Bank (NYSE:MTB) Price Target Raised to $200.00 at Citigroup

M&T Bank (NYSE:MTB) had its target price lifted by analysts at Citigroup from $195.00 to $200.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 7.40% from the stock’s current price.

A number of other equities analysts also recently weighed in on MTB. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft raised M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Thursday, April 24th. Truist Financial decreased their target price on M&T Bank from $225.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their price target on M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 15th. Finally, TD Cowen assumed coverage on M&T Bank in a report on Thursday, May 15th. They set a “buy” rating and a $230.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.88.

M&T Bank Price Performance

NYSE MTB traded up $1.17 during midday trading on Monday, hitting $186.23. The company had a trading volume of 359,119 shares, compared to its average volume of 1,177,362. The company has a market capitalization of $29.89 billion, a PE ratio of 12.47, a P/E/G ratio of 1.34 and a beta of 0.62. M&T Bank has a twelve month low of $145.82 and a twelve month high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $176.69 and a 200-day moving average price of $183.90.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $3.09 EPS. As a group, analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the sale, the director now owns 23,070 shares in the company, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Howe & Rusling Inc. boosted its stake in shares of M&T Bank by 15.0% in the 1st quarter. Howe & Rusling Inc. now owns 3,675 shares of the financial services provider’s stock worth $657,000 after buying an additional 480 shares during the last quarter. Strs Ohio bought a new stake in M&T Bank during the first quarter worth $29,566,000. Jacobi Capital Management LLC boosted its position in M&T Bank by 1.1% in the first quarter. Jacobi Capital Management LLC now owns 8,136 shares of the financial services provider’s stock worth $1,454,000 after purchasing an additional 87 shares during the last quarter. Advisors Capital Management LLC grew its stake in M&T Bank by 1.6% in the 1st quarter. Advisors Capital Management LLC now owns 185,017 shares of the financial services provider’s stock valued at $33,072,000 after purchasing an additional 2,932 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of M&T Bank by 20.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,656 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 276 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.