M&T Bank (NYSE:MTB) Price Target Raised to $164.00

M&T Bank (NYSE:MTBGet Free Report) had its price objective raised by research analysts at Piper Sandler from $152.00 to $164.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 14.65% from the company’s current price.

Several other research firms have also weighed in on MTB. JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Jefferies Financial Group increased their price objective on M&T Bank from $151.00 to $160.00 and gave the stock a “hold” rating in a research report on Tuesday, June 4th. Keefe, Bruyette & Woods lifted their target price on 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. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company raised their price objective on 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. 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. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $159.79.

View Our Latest Analysis on M&T Bank

M&T Bank Price Performance

NYSE:MTB opened at $143.05 on Wednesday. M&T Bank has a one year low of $108.53 and a one year high of $156.65. The stock has a market cap of $23.87 billion, a PE ratio of 9.67, a P/E/G ratio of 2.81 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $146.43 and a 200 day moving average price of $140.64.

M&T Bank (NYSE:MTBGet Free Report) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates 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 business earned $4.09 earnings per share. Equities research analysts expect that M&T Bank will post 14.04 EPS for the current fiscal year.

Insider Transactions at M&T Bank

In related news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the transaction, the director now directly owns 35,480 shares in the company, valued at $5,481,660. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the sale, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,553 shares of company stock valued at $14,724,147. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in M&T Bank in the third quarter valued at $833,000. Stevens Capital Management LP purchased a new position in shares of M&T Bank in the 4th quarter valued at about $320,000. Matrix Asset Advisors Inc. NY raised its position in shares of M&T Bank by 15.7% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after acquiring an additional 12,590 shares in the last quarter. Smead Capital Management Inc. purchased a new stake in M&T Bank during the fourth quarter worth approximately $59,418,000. Finally, Rafferty Asset Management LLC boosted its holdings in M&T Bank by 72.1% in the fourth quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after purchasing an additional 100,526 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

(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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Analyst Recommendations for M&T Bank (NYSE:MTB)

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