M&T Bank (NYSE:MTB) Price Target Raised to $161.00

M&T Bank (NYSE:MTB) had its target price lifted by analysts at Jefferies Financial Group from $160.00 to $161.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 7.33% from the company’s previous close.

A number of other research firms have also weighed in on MTB. Evercore ISI raised their target price on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Bank of America increased their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $161.58.

M&T Bank Price Performance

Shares of NYSE:MTB traded down $1.72 during midday trading on Wednesday, reaching $150.01. 238,867 shares of the company were exchanged, compared to its average volume of 1,037,316. The stock has a market cap of $25.03 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. The business’s fifty day moving average is $148.50 and its two-hundred day moving average is $142.12. M&T Bank has a one year low of $108.53 and a one year high of $156.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period last year, the firm posted $4.09 earnings per share. As a group, analysts predict that M&T Bank will post 13.99 earnings per share for the current year.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the sale, the executive vice president now 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 is available at the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher E. Kay sold 1,821 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the sale, the executive vice president now directly owns 8,579 shares of the company’s stock, valued at $1,319,278.62. 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 ninety days. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Large investors have recently made changes to their positions in the business. Lazard Asset Management LLC grew its position in M&T Bank by 45.7% during the 3rd quarter. Lazard Asset Management LLC now owns 5,745 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 1,803 shares during the last quarter. AQR Capital Management LLC increased its position in shares of M&T Bank by 371.7% in the 3rd quarter. AQR Capital Management LLC now owns 58,099 shares of the financial services provider’s stock valued at $7,347,000 after acquiring an additional 45,783 shares during the period. Advisors Asset Management Inc. raised its stake in M&T Bank by 63.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 9,340 shares of the financial services provider’s stock worth $1,181,000 after acquiring an additional 3,639 shares during the last quarter. Alps Advisors Inc. lifted its position in M&T Bank by 11.0% during the 3rd quarter. Alps Advisors Inc. now owns 2,674 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 264 shares during the period. Finally, Lido Advisors LLC grew its stake in M&T Bank by 17.5% during the 3rd quarter. Lido Advisors LLC now owns 2,125 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 316 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.