M&T Bank (NYSE:MTB) Given New $217.00 Price Target at Truist Financial

Key Points

• M&T Bank's stock price target has been lowered by Truist Financial from $227.00 to $217.00, maintaining a "buy" rating, suggesting a potential upside of 21.71% from the current price.
• Recent reports from other analysts show mixed ratings, with ratings ranging from "Strong Buy" to "Sell," and an average target price of approximately $217.03.
• As of the latest trading session, M&T Bank's stock was priced at $178.29, reflecting a slight decrease and a trading volume significantly lower than its average.

M&T Bank (NYSE:MTB - Get Free Report) had its price objective dropped by equities research analysts at Truist Financial from $227.00 to $217.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Truist Financial's price target points to a potential upside of 21.71% from the stock's current price.

A number of other equities analysts also recently issued reports on MTB. UBS Group increased their price objective on M&T Bank from $207.00 to $208.00 and gave the stock a "neutral" rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of M&T Bank in a report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Citigroup increased their price objective on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Piper Sandler initiated coverage on M&T Bank in a report on Monday, October 6th. They issued an "overweight" rating and a $225.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, M&T Bank presently has an average rating of "Moderate Buy" and an average price target of $217.03.

M&T Bank Trading Down 0.2%

MTB stock traded down $0.34 on Friday, reaching $178.29. The company's stock had a trading volume of 281,182 shares, compared to its average volume of 1,218,136. The business has a fifty day simple moving average of $194.96 and a two-hundred day simple moving average of $186.22. M&T Bank has a 12-month low of $150.75 and a 12-month high of $225.70. The firm has a market cap of $27.86 billion, a PE ratio of 11.55, a PEG ratio of 0.92 and a beta of 0.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.The company had revenue of $1.54 billion during the quarter. As a group, research analysts forecast that M&T Bank will post 16.57 EPS for the current year.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 15,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the sale, the director directly owned 17,866 shares of the company's stock, valued at $3,569,448.14. This trade represents a 45.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Peter D'arcy sold 2,461 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at $1,838,731.89. This trade represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,738 shares of company stock valued at $3,734,612 over the last ninety days. Insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MTB. Wealth Preservation Advisors LLC purchased a new position in M&T Bank in the first quarter worth about $25,000. WPG Advisers LLC purchased a new position in shares of M&T Bank during the 1st quarter valued at about $25,000. Golden State Wealth Management LLC lifted its position in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider's stock valued at $31,000 after buying an additional 155 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of M&T Bank during the 2nd quarter valued at about $36,000. Finally, Family Legacy Financial Solutions LLC purchased a new position in shares of M&T Bank during the 2nd quarter valued at about $46,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank

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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