M&T Bank Corporation (NYSE:MTB) Receives $217.76 Consensus Price Target from Analysts

Shares of M&T Bank Corporation (NYSE:MTB) have been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $217.7632.

Several analysts have issued reports on the company. TD Cowen boosted their price target on M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a report on Monday, October 20th. Piper Sandler began coverage on M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price objective on the stock. Cantor Fitzgerald started coverage on M&T Bank in a research note on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price objective for the company. Jefferies Financial Group increased their target price on shares of M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Evercore ISI raised their target price on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th.

Insider Buying and Selling at M&T Bank

In related news, Director John P. Barnes sold 15,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the transaction, the director owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. This represents a 45.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Large investors have recently made changes to their positions in the business. Wealth Preservation Advisors LLC purchased a new stake in shares of M&T Bank during the first quarter worth about $25,000. WPG Advisers LLC bought a new position in M&T Bank in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC grew its holdings in 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 valued at $31,000 after buying an additional 155 shares in the last quarter. Bank of Jackson Hole Trust raised its position in shares of M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after buying an additional 120 shares during the last quarter. Finally, Triumph Capital Management bought a new stake in shares of M&T Bank during the third quarter valued at approximately $32,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Down 3.0%

MTB opened at $181.30 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. M&T Bank has a 1-year low of $150.75 and a 1-year high of $225.70. The company has a market capitalization of $27.86 billion, a PE ratio of 11.16, a PEG ratio of 0.87 and a beta of 0.66. The firm’s 50 day simple moving average is $189.49 and its two-hundred day simple moving average is $189.76.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The firm 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%. As a group, equities analysts forecast that M&T Bank will post 16.57 EPS for the current year.

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.