M&T Bank (NYSE:MTB) Given New $205.00 Price Target at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price target hoisted by Wells Fargo & Company from $190.00 to $205.00 in a research report released on Friday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

MTB has been the subject of several other reports. Barclays raised their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. Evercore ISI raised their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased 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, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, M&T Bank has an average rating of “Hold” and a consensus target price of $199.65.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $214.82 on Friday. The business’s 50 day moving average price is $188.03 and its 200-day moving average price is $167.84. M&T Bank has a 1 year low of $123.46 and a 1 year high of $216.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $35.64 billion, a PE ratio of 15.90, a P/E/G ratio of 3.02 and a beta of 0.74.

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

Insiders Place Their Bets

In related news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This represents a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,383 shares of company stock valued at $13,576,801. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Large investors have recently bought and sold shares of the company. FMR LLC increased its holdings in M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after acquiring an additional 1,508,846 shares in the last quarter. State Street Corp lifted its stake in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares in the last quarter. Marshall Wace LLP grew its holdings in M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after buying an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC increased its position in M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of M&T Bank in the third quarter worth $44,422,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

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.