M&T Bank (NYSE:MTB) Given New $243.00 Price Target at Piper Sandler

M&T Bank (NYSE:MTB) had its price target boosted by investment analysts at Piper Sandler from $205.00 to $243.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would indicate a potential upside of 9.34% from the company’s current price.

MTB has been the subject of a number of other reports. Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank of Canada lifted their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their target price for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, DA Davidson lifted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $206.41.

M&T Bank Stock Up 0.7 %

NYSE:MTB traded up $1.49 during mid-day trading on Wednesday, reaching $222.24. The company’s stock had a trading volume of 181,360 shares, compared to its average volume of 1,037,537. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $36.87 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 3.13 and a beta of 0.74. The stock has a fifty day moving average of $193.89 and a 200-day moving average of $170.70. M&T Bank has a 1 year low of $123.46 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Equities research analysts forecast that M&T Bank will post 14.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated 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 owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 18.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the transaction, the director now owns 35,480 shares in the company, valued at $7,715,126. This represents a 36.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,383 shares of company stock valued at $17,925,801 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MTB. Capital Performance Advisors LLP acquired a new position in M&T Bank during the third quarter worth $44,000. Principal Financial Group Inc. boosted its holdings in M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of M&T Bank by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after buying an additional 18,566 shares during the period. Gateway Investment Advisers LLC increased its holdings in shares of M&T Bank by 60.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after buying an additional 12,304 shares during the last quarter. Finally, Smead Capital Management Inc. increased its holdings in shares of M&T Bank by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after buying an additional 16,657 shares during 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.