Keefe, Bruyette & Woods Issues Positive Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its price objective upped by research analysts at Keefe, Bruyette & Woods from $205.00 to $221.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 4.90% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Piper Sandler boosted their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. Wells Fargo & Company upped their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Bank of America upped their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Barclays upped their price objective on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $209.32.

M&T Bank Stock Performance

NYSE:MTB traded down $3.66 during mid-day trading on Wednesday, hitting $210.67. 462,491 shares of the company traded hands, compared to its average volume of 1,032,059. The stock’s fifty day moving average price is $198.00 and its 200-day moving average price is $172.96. M&T Bank has a one year low of $128.31 and a one year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a market cap of $34.95 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 3.04 and a beta of 0.76.

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 for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm 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%. Research analysts anticipate that M&T Bank will post 14.57 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other news, EVP John R. Taylor sold 1,436 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This represents a 20.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the sale, the director now owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,504 shares of company stock valued at $16,673,712. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of M&T Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas purchased a new stake in shares of M&T Bank during the 3rd quarter valued at $1,834,000. Franklin Resources Inc. lifted its holdings in shares of M&T Bank by 45.5% during the 3rd quarter. Franklin Resources Inc. now owns 21,481 shares of the financial services provider’s stock valued at $3,986,000 after purchasing an additional 6,717 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of M&T Bank by 80.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 13,901 shares of the financial services provider’s stock valued at $2,476,000 after purchasing an additional 6,205 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of M&T Bank by 14.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,767 shares of the financial services provider’s stock valued at $2,808,000 after purchasing an additional 2,018 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in M&T Bank by 71.1% in the 3rd quarter. Toronto Dominion Bank now owns 83,019 shares of the financial services provider’s stock worth $14,787,000 after acquiring an additional 34,501 shares during the last quarter. Hedge funds and other 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.