M&T Bank (NYSE:MTB) Given New $170.00 Price Target at Keefe, Bruyette & Woods

M&T Bank (NYSE:MTB) had its price target increased by equities research analysts at Keefe, Bruyette & Woods from $162.00 to $170.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 22.27% from the company’s current price.

A number of other research analysts have also commented on MTB. Wedbush restated an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Piper Sandler cut their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Evercore ISI upped their target price on shares of 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. Finally, Barclays upped their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $157.98.

M&T Bank Trading Up 1.2 %

Shares of MTB stock opened at $139.04 on Tuesday. The company’s fifty day simple moving average is $139.61 and its two-hundred day simple moving average is $132.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a 1 year low of $108.53 and a 1 year high of $148.23. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 1.30 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $4.09 earnings per share. As a group, 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, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock worth $5,114,624 over the last three months. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC raised its stake in 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 worth $105,417,000 after buying an additional 5,243,349 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 worth $42,949,000 after buying an additional 2,645,478 shares in the last quarter. Spring Creek Capital LLC raised its stake in 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 worth $66,759,000 after buying an additional 2,286,251 shares in the last quarter. Norges Bank bought a new position in M&T Bank in the fourth quarter worth about $232,322,000. Finally, Goldman Sachs Group Inc. raised its stake in 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 worth $71,171,000 after buying an additional 1,538,436 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

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.