Jefferies Financial Group Forecasts Strong Price Appreciation for M&T Bank (NYSE:MTB) Stock

Key Points

• Jefferies Financial Group has raised its target price for M&T Bank's stock from $220.00 to $240.00, indicating a potential upside of 20.83% from its previous close.
• M&T Bank's stock has received varied ratings from analysts, with thirteen analysts rating it a Buy and a consensus price target of $213.63.
• Insiders at M&T Bank have sold significant amounts of stock recently, with EVP Peter D'arcy selling 2,461 shares for nearly $485,580.

M&T Bank (NYSE:MTB - Get Free Report) had its target price boosted by stock analysts at Jefferies Financial Group from $220.00 to $240.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Jefferies Financial Group's price objective would indicate a potential upside of 20.83% from the stock's previous close.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Cowen initiated coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective for the company. Wells Fargo & Company raised their target price on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley upped their price target on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $213.63.

M&T Bank Trading Down 1.5%

Shares of MTB stock opened at $198.63 on Wednesday. M&T Bank has a fifty-two week low of $150.75 and a fifty-two week high of $225.70. The stock's fifty day moving average price is $195.09 and its two-hundred day moving average price is $183.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $31.04 billion, a PE ratio of 12.86, a P/E/G ratio of 0.99 and a beta of 0.67.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.24. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company earned $3.73 EPS. Equities analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Peter D'arcy sold 2,461 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the sale, the executive vice president directly owned 9,319 shares of the company's stock, valued at $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the transaction, the director owned 4,881 shares in the company, valued at $963,899.88. This represents a 20.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,438 shares of company stock valued at $4,964,196. Company insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in M&T Bank by 33.1% in the 1st quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock valued at $1,768,564,000 after buying an additional 2,460,315 shares during the last quarter. Nuveen LLC purchased a new position in M&T Bank in the first quarter worth $243,451,000. GAMMA Investing LLC increased its position in shares of M&T Bank by 18,471.2% during the 1st quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock valued at $126,145,000 after purchasing an additional 701,905 shares during the last quarter. Invesco Ltd. raised its stake in shares of M&T Bank by 15.2% during the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock worth $635,039,000 after purchasing an additional 468,758 shares during the period. Finally, Canoe Financial LP boosted its holdings in shares of M&T Bank by 24,443.7% in the 2nd quarter. Canoe Financial LP now owns 295,506 shares of the financial services provider's stock worth $57,325,000 after buying an additional 294,302 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.