Morgan Stanley Boosts M&T Bank (NYSE:MTB) Price Target to $215.00

M&T Bank (NYSE:MTB - Get Free Report) had its price target upped by research analysts 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 price target would indicate a potential upside of 17.44% from the company's previous close.

MTB has been the subject of a number of other research reports. Wells Fargo & Company reduced their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price objective on shares of M&T Bank and gave the company a "buy" rating in a research note on Wednesday, May 21st. Piper Sandler lowered their target price on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Citigroup dropped their target price on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Cowen started coverage on M&T Bank in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has an average rating of "Moderate Buy" and an average target price of $210.63.

M&T Bank Stock Performance

Shares of MTB stock traded up $1.37 during mid-day trading on Friday, hitting $183.07. 693,405 shares of the stock were exchanged, compared to its average volume of 1,168,243. The stock's fifty day simple moving average is $176.15 and its two-hundred day simple moving average is $184.49. 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 $145.25 and a 12-month high of $225.70. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.32 and a beta of 0.62.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 in the prior year, the business earned $3.09 EPS. On average, analysts forecast that M&T Bank will post 16.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director now owns 23,070 shares of the company's stock, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds have recently made changes to their positions in the stock. Wealth Preservation Advisors LLC acquired a new position in M&T Bank in the first quarter valued at $25,000. WPG Advisers LLC purchased a new position in M&T Bank in the first quarter valued at approximately $25,000. Wood Tarver Financial Group LLC purchased a new stake in M&T Bank during the fourth quarter worth approximately $29,000. Banque Transatlantique SA acquired a new stake in shares of M&T Bank in the fourth quarter worth $38,000. Finally, Grove Bank & Trust raised its stake in shares of M&T Bank by 104.6% in the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds 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.

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