Keefe, Bruyette & Woods Reiterates Market Perform Rating for M&T Bank (NYSE:MTB)

M&T Bank (NYSE:MTB)‘s stock had its “market perform” rating reaffirmed by investment analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday, Benzinga reports. They presently have a $170.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 12.32% from the stock’s current price.

MTB has been the topic of several other reports. Jefferies Financial Group lifted their price objective on shares of M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research report on Tuesday, June 4th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and a consensus target price of $161.51.

M&T Bank Stock Performance

Shares of MTB stock opened at $151.36 on Thursday. The company has a market cap of $25.25 billion, a P/E ratio of 10.23, a PEG ratio of 2.89 and a beta of 0.78. The business has a 50 day moving average of $148.32 and a two-hundred day moving average of $141.93. 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 released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company 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 prior year, the firm earned $4.09 EPS. As a group, analysts anticipate that M&T Bank will post 13.99 EPS for the current year.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the sale, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the sale, the executive vice president now owns 8,579 shares in the company, valued at approximately $1,319,278.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,553 shares of company stock valued at $14,724,147. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in M&T Bank in the 3rd quarter valued at approximately $833,000. Stevens Capital Management LP acquired a new position in shares of M&T Bank in the fourth quarter worth $320,000. Matrix Asset Advisors Inc. NY raised its holdings in shares of M&T Bank by 15.7% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after acquiring an additional 12,590 shares in the last quarter. Smead Capital Management Inc. acquired a new stake in M&T Bank during the fourth quarter valued at $59,418,000. Finally, Rafferty Asset Management LLC grew its stake in M&T Bank by 72.1% in the fourth quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after purchasing an additional 100,526 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.