TD Cowen Forecasts Strong Price Appreciation for M&T Bank (NYSE:MTB) Stock

Key Points

• TD Cowen has increased its price target for M&T Bank (NYSE: MTB) from $235 to $245, suggesting a potential upside of 33.63% based on current stock prices.
• M&T Bank's stock has received a mix of ratings from analysts, including one Strong Buy, eleven Buy, eight Hold, and one Sell, with a consensus rating of "Moderate Buy."
• M&T Bank's trading volume on Monday was 341,277 shares, with stock trading at $183.34, and it has a 52-week range of $150.75 to $225.70.

M&T Bank (NYSE:MTB - Get Free Report) had its target price boosted by TD Cowen from $235.00 to $245.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. TD Cowen's target price would suggest a potential upside of 33.63% from the company's current price.

A number of other equities analysts have also recently commented on MTB. Citigroup lifted their price target on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Piper Sandler started coverage on M&T Bank in a research note on Monday, October 6th. They issued an "overweight" rating and a $225.00 price target on the stock. Jefferies Financial Group lifted their price target on M&T Bank from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Evercore ISI lifted their price target on M&T Bank from $222.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Finally, UBS Group lifted their price target on M&T Bank from $207.00 to $208.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $217.76.

M&T Bank Price Performance

NYSE MTB traded up $2.67 during trading hours on Monday, hitting $183.34. The company had a trading volume of 341,277 shares, compared to its average volume of 1,227,699. M&T Bank has a 52 week low of $150.75 and a 52 week high of $225.70. The firm has a 50 day simple moving average of $194.83 and a 200 day simple moving average of $186.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.91. The firm has a market capitalization of $28.65 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.90 and a beta of 0.62.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The firm had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. Equities research analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the business's stock in a transaction on 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 sale, the director directly owned 17,866 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, EVP Peter D'arcy sold 2,461 shares of the company's 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 transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTB. Crestwood Advisors Group LLC increased its position in M&T Bank by 1.7% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider's stock worth $628,000 after purchasing an additional 54 shares during the period. First Manhattan CO. LLC. lifted its stake in M&T Bank by 0.6% in the 1st quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider's stock valued at $1,733,000 after buying an additional 57 shares in the last quarter. Compound Planning Inc. lifted its stake in M&T Bank by 3.0% in the 1st quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider's stock valued at $397,000 after buying an additional 64 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in M&T Bank by 5.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider's stock valued at $254,000 after buying an additional 64 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in shares of M&T Bank by 4.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock worth $282,000 after purchasing an additional 67 shares during the period. 84.68% of the stock is owned by 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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