Barclays Raises M&T Bank (NYSE:MTB) Price Target to $228.00

M&T Bank (NYSE:MTB) had its price objective upped by analysts at Barclays from $170.00 to $228.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 15.53% from the stock’s previous close.

MTB has been the subject of a number of other reports. Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. The Goldman Sachs Group upped their price target on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada raised their price objective on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler boosted their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Wedbush lifted their price target on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $192.94.

M&T Bank Price Performance

NYSE:MTB traded down $1.52 during trading hours on Friday, hitting $197.35. 267,292 shares of the company’s stock traded hands, compared to its average volume of 1,032,773. The business’s fifty day simple moving average is $172.23 and its two-hundred day simple moving average is $158.27. The firm has a market cap of $32.93 billion, a P/E ratio of 13.34, a P/E/G 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 company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the business earned $5.12 earnings per share. On average, research analysts anticipate that M&T Bank will post 14.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its position in M&T Bank by 54.4% in 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 last quarter. Meeder Advisory Services Inc. raised its position in shares of M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 70 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in M&T Bank by 1.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 70 shares during the last quarter. Umpqua Bank boosted its holdings in M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 73 shares during the last quarter. Finally, Procyon Advisors LLC grew its position in M&T Bank by 1.7% during the 3rd quarter. Procyon Advisors LLC now owns 4,544 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 74 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.