M&T Bank (NYSE:MTB) Price Target Raised to $218.00 at Bank of America

M&T Bank (NYSE:MTB) had its price target hoisted by Bank of America from $188.00 to $218.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 10.23% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group raised their target price on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada boosted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. StockNews.com downgraded 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 for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $194.71.

M&T Bank Price Performance

Shares of NYSE:MTB traded down $1.10 during trading on Friday, reaching $197.77. 783,517 shares of the company’s stock traded hands, compared to its average volume of 1,035,329. The company has a 50-day simple moving average of $172.23 and a 200-day simple moving average of $158.27. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $200.94. The firm has a market cap of $33.00 billion, a PE ratio of 13.37, a P/E/G ratio of 3.27 and a beta of 0.75. 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 quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the previous year, the business earned $5.12 earnings per share. As a group, analysts predict that M&T Bank will post 14.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. This trade 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 is available at the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock worth $5,115,349 in the last three months. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank during the 1st quarter worth $30,000. Hexagon Capital Partners LLC lifted its stake in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the period. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the second quarter worth $35,000. nVerses Capital LLC bought a new position in shares of M&T Bank in the 3rd quarter worth about $53,000. Finally, Versant Capital Management Inc boosted its holdings in shares of M&T Bank by 82.7% during the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds 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.