Wells Fargo & Company Increases M&T Bank (NYSE:MTB) Price Target to $190.00

M&T Bank (NYSE:MTB) had its target price upped by equities research analysts at Wells Fargo & Company from $165.00 to $190.00 in a report released on Friday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 3.82% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada raised their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday. DA Davidson lifted their price objective on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Jefferies Financial Group increased their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Morgan Stanley lifted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $187.00 to $210.00 in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $196.18.

M&T Bank Price Performance

NYSE MTB opened at $197.55 on Friday. The company has a 50-day moving average price of $172.93 and a 200-day moving average price of $158.78. M&T Bank has a 52 week low of $108.53 and a 52 week high of $200.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $32.96 billion, a P/E ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the company earned $5.12 earnings per share. Equities research analysts anticipate that M&T Bank will post 14.16 earnings per share for the current year.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now directly owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after purchasing an additional 81,004 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its position in M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares during the period. Institutional investors own 84.68% of the company’s stock.

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.