M&T Bank (NYSE:MTB) Given New $175.00 Price Target at Wells Fargo & Company

M&T Bank (NYSE:MTB - Get Free Report) had its price objective cut by investment analysts at Wells Fargo & Company from $185.00 to $175.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's target price indicates a potential upside of 9.31% from the company's current price.

Other analysts have also issued reports about the stock. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on 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. Citigroup decreased their price target on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Truist Financial cut their price objective on M&T Bank from $236.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Finally, Evercore ISI dropped their target price on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $208.14.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $1.19 during trading on Tuesday, hitting $160.09. 1,105,142 shares of the company traded hands, compared to its average volume of 1,111,223. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank has a one year low of $139.78 and a one year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The business's fifty day moving average is $177.25 and its 200-day moving average is $191.23.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $3.09 earnings per share. As a group, equities analysts predict that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of M&T Bank

Several hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its position in shares of M&T Bank by 34.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider's stock valued at $1,473,000 after acquiring an additional 2,018 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock valued at $515,000 after purchasing an additional 1,295 shares during the period. 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 worth $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC bought a new position in shares of M&T Bank during the 4th quarter worth about $290,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of M&T Bank during the fourth quarter valued at about $297,000. 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.