M&T Bank (NYSE:MTB) Price Target Raised to $207.00 at DA Davidson

M&T Bank (NYSE:MTB - Get Free Report) had its price target increased by equities research analysts at DA Davidson from $189.00 to $207.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. DA Davidson's price target points to a potential upside of 6.28% from the stock's current price.

A number of other research firms have also commented on MTB. JPMorgan Chase & Co. lowered their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. TD Cowen initiated coverage on shares of M&T Bank in a report on Thursday, May 15th. They set a "buy" rating and a $230.00 price target on the stock. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Truist Financial reduced their target price on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company boosted their price target on shares of M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, M&T Bank currently has an average rating of "Moderate Buy" and an average price target of $212.88.

M&T Bank Stock Performance

MTB stock traded up $2.24 during trading hours on Thursday, reaching $194.76. The stock had a trading volume of 936,735 shares, compared to its average volume of 1,202,453. The stock has a 50-day simple moving average of $187.89 and a 200 day simple moving average of $184.26. 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 stock has a market capitalization of $31.26 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.63. M&T Bank has a fifty-two week low of $150.75 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.04 by $0.24. The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.39 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same quarter last year, the company posted $3.73 EPS. Analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director directly owned 23,070 shares of the company's stock, valued at $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company's stock.

Institutional Trading of M&T Bank

Several large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC boosted its holdings in shares of M&T Bank by 18.3% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,354 shares of the financial services provider's stock valued at $457,000 after buying an additional 364 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in M&T Bank by 12.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 14,553 shares of the financial services provider's stock worth $2,823,000 after purchasing an additional 1,560 shares in the last quarter. CX Institutional lifted its position in M&T Bank by 16.5% during the second quarter. CX Institutional now owns 1,580 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 224 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of M&T Bank by 9.5% during the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 232,896 shares of the financial services provider's stock valued at $45,179,000 after buying an additional 20,191 shares during the period. Finally, GAMMA Investing LLC boosted its position in M&T Bank by 26.4% in the second quarter. GAMMA Investing LLC now owns 4,989 shares of the financial services provider's stock worth $968,000 after purchasing an additional 1,041 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

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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