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

M&T Bank (NYSE:MTB) had its target price upped by equities researchers at Barclays from $228.00 to $235.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential upside of 20.90% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Piper Sandler boosted their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Compass Point lifted their target price on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. DA Davidson upped their target price on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Evercore ISI boosted their price objective on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus price target of $215.91.

M&T Bank Stock Up 1.5 %

Shares of M&T Bank stock traded up $2.83 during trading on Monday, hitting $194.37. 398,707 shares of the stock were exchanged, compared to its average volume of 889,042. The stock has a market cap of $32.25 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.83 and a beta of 0.79. The firm’s 50-day moving average price is $203.61 and its 200 day moving average price is $180.81. 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 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 data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. As a group, analysts forecast that M&T Bank will post 14.63 earnings per share for the current fiscal year.

Insider Transactions at M&T Bank

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock valued at $17,211,278 in the last ninety days. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On M&T Bank

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