M&T Bank (NYSE:MTB) Given “Buy” Rating at Truist Financial

M&T Bank (NYSE:MTB)‘s stock had its “buy” rating restated by Truist Financial in a note issued to investors on Friday,Benzinga reports. They presently have a $236.00 price target on the financial services provider’s stock, up from their prior price target of $233.00. Truist Financial’s price objective indicates a potential upside of 19.87% from the stock’s previous close.

MTB has been the subject of several other research reports. Barclays raised their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Compass Point upped their target price on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price target on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wedbush increased their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group boosted their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $221.68.

M&T Bank Stock Up 0.4 %

Shares of MTB stock opened at $196.88 on Friday. The stock has a market cap of $32.67 billion, a P/E ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79. The company’s fifty day simple moving average is $202.41 and its two-hundred day simple moving average is $183.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a 52 week low of $128.31 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the prior year, the business earned $2.74 EPS. Analysts predict that M&T Bank will post 14.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of MTB. Hedeker Wealth LLC increased its position in shares of M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after buying an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC raised its position in M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares during the period. Hexagon Capital Partners LLC lifted its holdings in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its position in shares of M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.