M&T Bank (NYSE:MTB) Price Target Raised to $200.00 at Citigroup

M&T Bank (NYSE:MTB - Get Free Report) had its price target raised by Citigroup from $195.00 to $200.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Citigroup's price target points to a potential upside of 3.29% from the company's previous close.

A number of other research analysts have also recently commented on MTB. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Robert W. Baird reduced their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Barclays lowered their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. 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 a consensus rating of "Moderate Buy" and a consensus price target of $210.88.

M&T Bank Price Performance

Shares of NYSE:MTB traded up $2.39 on Monday, hitting $193.62. The company's stock had a trading volume of 977,586 shares, compared to its average volume of 1,183,547. The company has a market capitalization of $31.08 billion, a PE ratio of 12.97, a PEG ratio of 1.39 and a beta of 0.62. 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 has a 50-day simple moving average of $178.57 and a 200 day simple moving average of $183.84. M&T Bank has a 1 year low of $145.82 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same quarter in the previous year, the firm earned $3.09 earnings per share. Sell-side analysts forecast that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction on 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 trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company's stock.

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. Exchange Traded Concepts LLC boosted its holdings in M&T Bank by 53.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock worth $94,000 after buying an additional 184 shares during the last quarter. US Bancorp DE grew its position in M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after acquiring an additional 1,639 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in M&T Bank by 4.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock worth $370,000 after buying an additional 88 shares in the last quarter. American Century Companies Inc. grew its stake in M&T Bank by 0.9% during the 4th quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider's stock worth $12,782,000 after purchasing an additional 610 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of M&T Bank during the fourth quarter worth approximately $2,035,000. 84.68% of the stock is owned by hedge funds and other 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.