M&T Bank (NYSE:MTB) Given New $150.00 Price Target at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price target upped by investment analysts at Wells Fargo & Company from $145.00 to $150.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 7.88% from the company’s previous close.

A number of other brokerages have also recently commented on MTB. JPMorgan Chase & Co. boosted their price objective on M&T Bank from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Barclays boosted their price objective on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Bank of America upped their target price on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday. Wedbush restated an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Evercore ISI upped their target price on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $157.98.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $139.04 on Tuesday. M&T Bank has a twelve month low of $108.53 and a twelve month high of $148.23. The stock has a market capitalization of $23.17 billion, a P/E ratio of 9.40, a PEG ratio of 1.30 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average price is $139.61 and its 200 day moving average price is $132.77.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the business posted $4.09 EPS. As a group, research analysts anticipate that M&T Bank will post 13.89 earnings per share for the current year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock valued at $5,114,624 in the last three months. 0.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds have recently bought and sold shares of the business. Virtu Financial LLC lifted its stake in shares of M&T Bank by 17,405.3% in the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after buying an additional 5,243,349 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of M&T Bank by 113.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock valued at $42,949,000 after buying an additional 2,645,478 shares during the period. Spring Creek Capital LLC lifted its stake in shares of M&T Bank by 217.0% in the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock valued at $66,759,000 after buying an additional 2,286,251 shares during the period. Norges Bank bought a new stake in shares of M&T Bank in the fourth quarter valued at about $232,322,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of M&T Bank by 76.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after buying an additional 1,538,436 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

About M&T Bank

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.