M&T Bank (NYSE:MTB) Price Target Raised to $216.00

M&T Bank (NYSE:MTB) had its price target upped by The Goldman Sachs Group from $190.00 to $216.00 in a research note issued on Friday, MarketBeat.com reports. The firm currently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 9.34% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada boosted their price target on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Morgan Stanley boosted their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. DA Davidson boosted their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Bank of America boosted their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $196.18.

M&T Bank Stock Performance

M&T Bank stock opened at $197.55 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50 day simple moving average is $172.93 and its two-hundred day simple moving average is $158.78. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $200.94. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the previous year, the firm posted $5.12 EPS. As a group, analysts expect that M&T Bank will post 14.16 earnings per share for the current fiscal year.

Insider Transactions at M&T Bank

In other news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 in the last three months. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings 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 buying an additional 81,004 shares during the period. Dimensional Fund Advisors LP boosted its holdings in M&T Bank by 6.1% in 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 buying an additional 93,113 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 purchasing an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of M&T Bank by 3.2% during 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 purchasing an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

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.