M&T Bank (NYSE:MTB) Given “In-Line” Rating at Evercore ISI

M&T Bank (NYSE:MTB)‘s stock had its “in-line” rating reaffirmed by investment analysts at Evercore ISI in a report issued on Tuesday,Benzinga reports. They presently have a $225.00 price objective on the financial services provider’s stock, up from their previous price objective of $210.00. Evercore ISI’s price objective would indicate a potential upside of 7.17% from the company’s current price.

A number of other analysts have also issued reports on MTB. Piper Sandler assumed coverage on shares of M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target for the company. UBS Group boosted their target price on shares of M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Barclays increased their price target on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday. Cantor Fitzgerald began coverage on M&T Bank in a report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price objective for the company. Finally, Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.69.

M&T Bank Stock Up 0.2%

Shares of NYSE MTB traded up $0.50 during midday trading on Tuesday, reaching $209.95. 87,336 shares of the company’s stock were exchanged, compared to its average volume of 673,001. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank has a 52-week low of $150.75 and a 52-week high of $211.30. The business’s fifty day moving average price is $194.14 and its two-hundred day moving average price is $193.93. The stock has a market capitalization of $32.27 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 0.87 and a beta of 0.59.

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 for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The firm had revenue of $1.54 billion during the quarter. Analysts forecast that M&T Bank will post 16.57 EPS for the current year.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 5,250 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total transaction of $1,006,425.00. Following the completion of the transaction, the executive vice president owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. The trade was a 48.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the sale, the director directly owned 17,070 shares in the company, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. 0.53% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of M&T Bank by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider’s stock valued at $196,243,000 after acquiring an additional 187,780 shares during the period. Marshall Wace LLP increased its position in shares of M&T Bank by 6.2% during the 2nd quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after purchasing an additional 33,920 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of M&T Bank by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after purchasing an additional 13,749 shares during the period. Canoe Financial LP raised its stake in shares of M&T Bank by 46.8% in the 3rd quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares in the last quarter. Finally, RNC Capital Management LLC lifted its holdings in shares of M&T Bank by 0.3% in the second quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock valued at $70,430,000 after buying an additional 1,058 shares during the period. 84.68% of the stock is 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.