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

M&T Bank (NYSE:MTB) had its target price upped by investment analysts at Wells Fargo & Company from $185.00 to $205.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential downside of 1.36% from the stock’s current price.

MTB has been the topic of several other research reports. Evercore ISI raised their target price on M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $217.00 price objective for the company. in a research report on Friday, December 12th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Piper Sandler began 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 objective for the company. Finally, Robert W. Baird lifted their target price on M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $220.15.

M&T Bank Price Performance

MTB stock opened at $207.84 on Monday. The business’s 50-day moving average is $193.61 and its two-hundred day moving average is $193.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $31.94 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.87 and a beta of 0.59. M&T Bank has a 1 year low of $150.75 and a 1 year high of $208.26.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The firm had revenue of $1.54 billion for the quarter. Analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insider Activity at M&T Bank

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MTB. Bank of Jackson Hole Trust lifted its position in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 120 shares during the period. Triumph Capital Management purchased a new stake in shares of M&T Bank in the third quarter valued at approximately $32,000. Golden State Wealth Management LLC increased its holdings in shares of M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Ameriflex Group Inc. boosted its holdings in M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank during the second quarter worth about $36,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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.