M&T Bank (NYSE:MTB) Stock Price Expected to Rise, Morgan Stanley Analyst Says

M&T Bank (NYSE:MTB) had its price target upped by equities researchers at Morgan Stanley from $251.00 to $271.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 23.57% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Truist Financial set a $230.00 price target on shares of M&T Bank in a report on Tuesday, January 20th. Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada increased their price target on M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. JPMorgan Chase & Co. lifted their price objective on M&T Bank from $217.00 to $244.50 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Evercore lowered M&T Bank from an “outperform” rating to a “hold” rating and boosted their price objective for the company from $210.00 to $225.00 in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $232.34.

M&T Bank Price Performance

M&T Bank stock opened at $219.31 on Monday. The firm has a market capitalization of $32.68 billion, a P/E ratio of 12.86, a PEG ratio of 0.96 and a beta of 0.58. The business has a 50-day moving average of $218.68 and a 200-day moving average of $201.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank has a 1 year low of $150.75 and a 1 year high of $239.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the firm earned $3.77 EPS. On average, equities analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the completion of the transaction, the insider owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This represents a 5.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 909 shares of M&T Bank stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the sale, the director owned 5,976 shares in the company, valued at $1,358,763.12. This trade represents a 13.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 49,092 shares of company stock worth $11,182,250. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On M&T Bank

A number of large investors have recently modified their holdings of the business. Canoe Financial LP grew its holdings in shares of M&T Bank by 50.5% in the 4th quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after acquiring an additional 219,065 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in M&T Bank in the fourth quarter valued at approximately $42,817,000. Danske Bank A S bought a new position in M&T Bank in the third quarter valued at approximately $29,612,000. Russell Investments Group Ltd. increased its position in shares of M&T Bank by 94.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock worth $57,879,000 after purchasing an additional 142,593 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich raised its stake in shares of M&T Bank by 37.1% during the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after purchasing an additional 95,025 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.