M&T Bank (NYSE:MTB) Price Target Raised to $215.00

M&T Bank (NYSE:MTB - Get Free Report) had its price objective raised by equities researchers at Morgan Stanley from $206.00 to $215.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's target price would suggest a potential upside of 13.40% from the stock's current price.

Several other research analysts have also recently commented on the company. Cowen initiated coverage on M&T Bank in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Robert W. Baird decreased their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $210.88.

M&T Bank Stock Up 2.5%

M&T Bank stock traded up $4.54 during mid-day trading on Friday, reaching $189.60. The company's stock had a trading volume of 1,376,874 shares, compared to its average volume of 1,181,329. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank has a 12 month low of $145.82 and a 12 month high of $225.70. The business's 50 day simple moving average is $176.69 and its 200 day simple moving average is $183.90. The company has a market capitalization of $30.43 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62.

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 analysts' consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $3.09 earnings per share. As a group, research analysts anticipate that M&T Bank will post 16.57 earnings per share for the current year.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director now owns 23,070 shares in the company, valued at $4,233,806.40. This trade represents a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of M&T Bank by 14.3% in the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after purchasing an additional 1,761,014 shares during the period. Wellington Management Group LLP grew its stake in M&T Bank by 33.1% during the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock worth $1,768,564,000 after buying an additional 2,460,315 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after acquiring an additional 252,583 shares in the last quarter. Geode Capital Management LLC increased its stake in M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after acquiring an additional 40,948 shares during the last quarter. Finally, Invesco Ltd. raised its position in M&T Bank by 15.2% during the first quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock valued at $635,039,000 after purchasing an additional 468,758 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.