M&T Bank (NYSE:MTB) Price Target Raised to $208.00 at UBS Group

Key Points

• M&T Bank's price target has been increased to $208.00 by UBS Group, indicating a potential upside of 9.39% from its previous close.
• In addition to UBS, other analysts like Morgan Stanley and Piper Sandler have also raised their price targets and ratings for M&T Bank, with estimates reaching as high as $225.00.
• As of now, M&T Bank is viewed with a consensus rating of "Moderate Buy" among analysts, with 13 Buy ratings and an average target price of $216.18.

M&T Bank (NYSE:MTB - Get Free Report) had its price objective hoisted by analysts at UBS Group from $207.00 to $208.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. UBS Group's target price points to a potential upside of 9.39% from the stock's previous close.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Piper Sandler assumed coverage on shares of M&T Bank in a report on Monday. They issued an "overweight" rating and a $225.00 target price on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of M&T Bank in a research report on Saturday, September 27th. Wells Fargo & Company raised their price objective on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. Finally, Evercore ISI lifted their target price on M&T Bank from $222.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $216.18.

M&T Bank Stock Up 0.1%

Shares of MTB traded up $0.14 during mid-day trading on Tuesday, hitting $190.14. 351,499 shares of the company traded hands, compared to its average volume of 1,212,822. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. M&T Bank has a 1-year low of $150.75 and a 1-year high of $225.70. The business has a 50 day moving average of $195.48 and a 200 day moving average of $186.05. The company has a market capitalization of $29.71 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.95 and a beta of 0.62.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.During the same quarter in the previous year, the business earned $3.73 EPS. Equities research analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the transaction, the director owned 17,866 shares in the company, valued at $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $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. In the last three months, insiders have sold 18,738 shares of company stock valued at $3,734,612. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors have recently modified their holdings of MTB. Wellington Management Group LLP grew its holdings 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 valued at $1,768,564,000 after purchasing an additional 2,460,315 shares during the period. Invesco Ltd. increased its holdings in M&T Bank by 15.2% during the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock worth $635,039,000 after purchasing an additional 468,758 shares during the period. Northern Trust Corp increased its holdings in shares of M&T Bank by 2.3% in the 1st quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider's stock valued at $307,702,000 after acquiring an additional 38,081 shares during the period. Dimensional Fund Advisors LP raised its position in M&T Bank by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider's stock worth $287,932,000 after buying an additional 12,580 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of M&T Bank by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider's stock worth $257,826,000 after purchasing an additional 30,643 shares in the last quarter. 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.

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