M&T Bank (NYSE:MTB) Price Target Raised to $235.00 at Barclays

M&T Bank (NYSE:MTB) had its price objective lifted by equities research analysts at Barclays from $228.00 to $235.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 22.40% from the stock’s current price.

MTB has been the topic of several other research reports. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $216.86.

M&T Bank Price Performance

MTB stock opened at $192.00 on Monday. The stock has a market capitalization of $31.86 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 2.79 and a beta of 0.76. The firm’s 50-day moving average price is $203.45 and its two-hundred day moving average price is $181.44. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank has a 12-month low of $128.31 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates 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 predict that M&T Bank will post 14.63 earnings per share for the current year.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. This represents a 15.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This represents a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

Several large investors have recently modified their holdings of MTB. Plato Investment Management Ltd boosted its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank in the third quarter worth approximately $32,000. Hexagon Capital Partners LLC increased its holdings in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank during the 3rd quarter worth $44,000. 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.