M&T Bank (NYSE:MTB) PT Raised to $168.00 at Evercore ISI

M&T Bank (NYSE:MTB) had its price target hoisted by analysts at Evercore ISI from $157.00 to $168.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target indicates a potential upside of 13.93% from the stock’s previous close.

Several other equities analysts have also recently issued reports on MTB. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. DA Davidson reiterated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. JPMorgan Chase & Co. raised their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $164.00 price objective on shares of M&T Bank in a report on Friday, June 21st. Finally, Bank of America increased their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $161.51.

M&T Bank Trading Down 0.1 %

M&T Bank stock opened at $147.46 on Tuesday. The stock has a 50-day moving average price of $147.83 and a 200 day moving average price of $141.72. The company has a market capitalization of $24.60 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 2.90 and a beta of 0.78. M&T Bank has a 52 week low of $108.53 and a 52 week high of $156.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the firm posted $4.09 earnings per share. Sell-side analysts anticipate that M&T Bank will post 13.99 EPS for the current year.

Insider Activity

In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The disclosure for this sale can be found here. Insiders sold 97,553 shares of company stock worth $14,724,147 over the last three months. Insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MTB. Meeder Advisory Services Inc. raised its position in M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 70 shares during the period. Burns J W & Co. Inc. NY lifted its position in M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after buying an additional 80 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in M&T Bank by 3.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after buying an additional 80 shares during the period. Fulton Bank N.A. increased its position in shares of M&T Bank by 2.3% during the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after acquiring an additional 81 shares during the last quarter. Finally, Tritonpoint Wealth LLC raised its stake in shares of M&T Bank by 2.3% in the 1st quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 87 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.