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

M&T Bank (NYSE:MTB) had its target price upped by Wells Fargo & Company from $190.00 to $205.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on MTB. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Barclays lifted their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. DA Davidson raised their price target on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Wedbush upped their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $199.65.

M&T Bank Trading Up 0.0 %

Shares of MTB stock opened at $214.82 on Friday. M&T Bank has a 1-year low of $123.46 and a 1-year high of $216.84. The firm’s 50-day simple moving average is $188.03 and its 200-day simple moving average is $167.84. The firm has a market cap of $35.64 billion, a P/E ratio of 15.90, a PEG ratio of 3.02 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, equities analysts forecast that M&T Bank will post 14.56 EPS for the current year.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 1,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the transaction, the director now directly owns 2,108 shares in the company, valued at $443,143.76. This trade represents a 43.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael J. Todaro sold 4,786 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $214.10, for a total value of $1,024,682.60. Following the completion of the sale, the executive vice president now owns 2,787 shares of the company’s stock, valued at $596,696.70. This trade represents a 63.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,383 shares of company stock worth $13,576,801. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its position in M&T Bank by 26.7% in the first quarter. Empowered Funds LLC now owns 2,204 shares of the financial services provider’s stock worth $321,000 after buying an additional 465 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of M&T Bank by 0.7% during the first quarter. Sei Investments Co. now owns 52,092 shares of the financial services provider’s stock valued at $7,578,000 after purchasing an additional 338 shares during the last quarter. Bleakley Financial Group LLC boosted its position in shares of M&T Bank by 13.2% in the 1st quarter. Bleakley Financial Group LLC now owns 2,980 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 348 shares during the period. M&G Plc purchased a new position in M&T Bank in the 1st quarter worth about $8,147,000. Finally, Connors Investor Services Inc. lifted its stake in M&T Bank by 5.0% during the first quarter. Connors Investor Services Inc. now owns 2,419 shares of the financial services provider’s stock valued at $352,000 after buying an additional 115 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.