M&T Bank (NYSE:MTB) Upgraded to “Outperform” by Wolfe Research

M&T Bank (NYSE:MTB) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a $210.00 price objective on the financial services provider’s stock. Wolfe Research’s target price indicates a potential upside of 21.85% from the stock’s current price.

MTB has been the topic of several other research reports. Jefferies Financial Group boosted their target price on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Wedbush upped their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Bank of America lifted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods increased their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $185.75.

M&T Bank Stock Down 0.5 %

Shares of MTB opened at $172.34 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $168.77 and a two-hundred day moving average price of $155.45. The stock has a market cap of $28.76 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 3.55 and a beta of 0.76. M&T Bank has a 12 month low of $108.53 and a 12 month high of $180.63.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company earned $5.12 EPS. Equities analysts predict that M&T Bank will post 14.23 EPS for the current fiscal year.

Insider Activity

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

A number of large investors have recently made changes to their positions in MTB. Marshall Wace LLP increased its stake in M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after purchasing an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares in the last quarter. Vest Financial LLC acquired a new stake in shares of M&T Bank during the first quarter worth $18,147,000. Dimensional Fund Advisors LP lifted its position in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in M&T Bank by 195.1% in the 1st quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock worth $19,480,000 after purchasing an additional 83,814 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

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.