M&T Bank (NYSE:MTB) Stock Price Expected to Rise, Citigroup Analyst Says

M&T Bank (NYSE:MTB - Get Free Report) had its price target lifted by investment analysts at Citigroup from $200.00 to $212.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Citigroup's price objective would suggest a potential upside of 4.65% from the company's previous close.

Several other equities analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research note on Thursday, April 24th. Truist Financial dropped their price target on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. DA Davidson reduced their price objective on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler dropped their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their price target on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.48.

M&T Bank Price Performance

NYSE MTB traded up $2.52 on Wednesday, hitting $202.58. The company had a trading volume of 838,320 shares, compared to its average volume of 1,188,657. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. The company's fifty day moving average price is $183.43 and its 200-day moving average price is $183.66. The company has a market capitalization of $32.52 billion, a PE ratio of 13.57, a PEG ratio of 1.46 and a beta of 0.63. M&T Bank has a 12-month low of $145.82 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same quarter last year, the firm posted $3.09 earnings per share. As a group, analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the transaction, the director directly owned 23,070 shares of the company's stock, valued at $4,233,806.40. The trade was a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTB. Wealth Preservation Advisors LLC purchased a new position in M&T Bank in the 1st quarter valued at approximately $25,000. WPG Advisers LLC acquired a new stake in shares of M&T Bank in the first quarter valued at $25,000. Wood Tarver Financial Group LLC purchased a new position in M&T Bank in the fourth quarter valued at $29,000. Banque Transatlantique SA acquired a new position in M&T Bank during the 4th quarter worth $38,000. Finally, Grove Bank & Trust grew its stake in M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after purchasing an additional 114 shares in 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 Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.