M&T Bank (NYSE:MTB) PT Raised to $160.00

M&T Bank (NYSE:MTB) had its price target hoisted by research analysts at Bank of America from $157.00 to $160.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target points to a potential upside of 15.07% from the company’s previous close.

Several other brokerages have also recently weighed in on MTB. Jefferies Financial Group lowered their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of M&T Bank from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $155.00 to $162.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research report on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price on the stock. in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from 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 50-day moving average price is $139.61 and its 200-day moving average price is $132.77. 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 stock has a market cap 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 has a twelve month low of $108.53 and a twelve month high of $148.23.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for 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 period in the previous year, the firm posted $4.09 EPS. As a group, equities analysts predict that M&T Bank will post 13.89 earnings per share for the current year.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now 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 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.

Institutional Trading of M&T Bank

A number of large investors have recently made changes to their positions in MTB. Virtu Financial LLC increased its stake in shares of M&T Bank by 17,405.3% during 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 during the period. Price T Rowe Associates Inc. MD increased its stake in shares of M&T Bank by 113.4% during 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 during the period. Spring Creek Capital LLC increased its stake in shares of M&T Bank by 217.0% during 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 during the period. Norges Bank purchased a new stake in shares of M&T Bank during the fourth quarter worth approximately $232,322,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of M&T Bank by 76.1% during 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 during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.