M&T Bank (NYSE:MTB) PT Raised to $161.00 at Jefferies Financial Group

M&T Bank (NYSE:MTB) had its price target upped by equities research analysts at Jefferies Financial Group from $160.00 to $161.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 7.96% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $170.00 price target on shares of M&T Bank in a research note on Thursday, June 27th. Wells Fargo & Company lifted their price objective 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. Finally, Wedbush reiterated an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $161.58.

M&T Bank Trading Down 1.7 %

Shares of MTB opened at $149.13 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 1-year low of $108.53 and a 1-year high of $156.65. The stock has a market cap of $24.88 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 2.98 and a beta of 0.77. The firm has a 50 day simple moving average of $148.53 and a 200-day simple moving average of $142.17.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the business posted $4.09 EPS. Equities analysts forecast that M&T Bank will post 13.99 EPS for the current fiscal year.

Insider Activity

In related news, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The sale was disclosed in a filing with the SEC, 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 transaction of $6,709,317.00. Following the sale, the director now owns 35,480 shares in the company, valued at $5,481,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,553 shares of company stock valued at $14,724,147. Company insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of M&T Bank during the fourth quarter worth about $232,322,000. Smead Capital Management Inc. purchased a new position in shares of M&T Bank during the 4th quarter valued at approximately $59,418,000. Los Angeles Capital Management LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth approximately $34,645,000. Bank of Nova Scotia increased its stake in shares of M&T Bank by 1,155.9% in the fourth quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock worth $28,154,000 after buying an additional 189,038 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in M&T Bank by 127.6% in the fourth quarter. BNP Paribas Financial Markets now owns 277,330 shares of the financial services provider’s stock valued at $38,016,000 after acquiring an additional 155,487 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.