M&T Bank (NYSE:MTB) Price Target Raised to $265.50

M&T Bank (NYSE:MTB) had its target price boosted by JPMorgan Chase & Co. from $251.50 to $265.50 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, April 6th. Piper Sandler raised their price target on M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Truist Financial lifted their price objective on M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods boosted their price objective on M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group restated a “buy” rating and set a $300.00 target price on shares of M&T Bank in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $253.53.

M&T Bank Trading Down 0.2%

NYSE:MTB opened at $246.60 on Wednesday. The company has a market capitalization of $36.11 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.15 and a beta of 0.57. The stock’s 50 day moving average price is $234.15 and its 200 day moving average price is $221.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.89. M&T Bank has a 52 week low of $174.76 and a 52 week high of $255.00.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm posted $4.28 EPS. On average, research analysts forecast that M&T Bank will post 19.42 EPS for the current fiscal year.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the completion of the transaction, the executive vice president owned 6,753 shares in the company, valued at approximately $1,462,024.50. This represents a 31.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently modified their holdings of MTB. Bogart Wealth LLC raised its stake in shares of M&T Bank by 233.3% in the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 84 shares during the last quarter. Triumph Capital Management bought a new stake in M&T Bank during the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC bought a new position in M&T Bank in the 4th quarter valued at $33,000. Bank of Jackson Hole Trust grew its holdings in shares of M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 60 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of M&T Bank during the second quarter worth $51,000. 84.68% of the stock is currently owned by institutional investors.

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.