Truist Financial Has Lowered Expectations for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its target price reduced by research analysts at Truist Financial from $227.00 to $217.00 in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price suggests a potential upside of 20.14% from the company’s current price.

A number of other brokerages have also issued reports on MTB. Morgan Stanley boosted their target price on shares of M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Jefferies Financial Group boosted their target price on shares of M&T Bank from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Citigroup boosted their target price on shares of M&T Bank from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Piper Sandler began coverage on shares of M&T Bank in a research note on Monday, October 6th. They set an “overweight” rating and a $225.00 target price for the company. Finally, UBS Group boosted their target price on shares of M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.97.

M&T Bank Stock Up 1.1%

NYSE MTB opened at $180.63 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $194.83 and a two-hundred day moving average of $186.30. The firm has a market capitalization of $28.23 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.90 and a beta of 0.62. M&T Bank has a 52 week low of $150.75 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. The company had revenue of $1.54 billion during the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. On average, analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Peter D’arcy sold 2,461 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the sale, the director directly owned 4,881 shares of the company’s stock, valued at approximately $963,899.88. The trade was a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,738 shares of company stock valued at $3,734,612 over the last ninety days. 0.53% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

Hedge funds have recently modified their holdings of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of M&T Bank during the first quarter valued at about $25,000. WPG Advisers LLC acquired a new stake in M&T Bank during the 1st quarter valued at approximately $25,000. Golden State Wealth Management LLC grew its stake in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the 2nd quarter worth approximately $36,000. Finally, Family Legacy Financial Solutions LLC acquired a new stake in shares of M&T Bank during the 2nd quarter worth approximately $46,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.