M&T Bank (NYSE:MTB) Price Target Raised to $190.00

M&T Bank (NYSE:MTB) had its target price hoisted by analysts at Wells Fargo & Company from $165.00 to $190.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 4.06% from the company’s current price.

MTB has been the subject of several other research reports. Jefferies Financial Group increased their target price on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Citigroup lifted their target price on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $187.00 to $210.00 in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $196.18.

M&T Bank Stock Performance

Shares of MTB stock traded down $0.83 during midday trading on Friday, hitting $198.04. 874,936 shares of the company were exchanged, compared to its average volume of 1,035,781. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $33.04 billion, a P/E ratio of 13.39, a PEG ratio of 3.27 and a beta of 0.75. M&T Bank has a 52 week low of $108.53 and a 52 week high of $200.94. The firm’s 50 day moving average price is $172.23 and its two-hundred day moving average price is $158.27.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company posted $5.12 EPS. As a group, equities research analysts anticipate that M&T Bank will post 14.16 earnings per share for the current year.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the period. Meeder Advisory Services Inc. boosted 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 valued at $273,000 after buying an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 70 shares during the last quarter. Umpqua Bank raised its holdings in shares of M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 73 shares during the last quarter. Finally, Procyon Advisors LLC raised its holdings in shares of M&T Bank by 1.7% in the third quarter. Procyon Advisors LLC now owns 4,544 shares of the financial services provider’s stock worth $809,000 after acquiring an additional 74 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.