The Goldman Sachs Group Boosts M&T Bank (NYSE:MTB) Price Target to $216.00

M&T Bank (NYSE:MTB) had its price objective increased by equities research analysts at The Goldman Sachs Group from $190.00 to $216.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 9.45% from the stock’s previous close.

Several other research firms also recently commented on MTB. Citigroup lifted their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Piper Sandler raised their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Jefferies Financial Group raised their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $192.94.

M&T Bank Price Performance

Shares of NYSE MTB traded down $1.52 during mid-day trading on Friday, reaching $197.35. 267,292 shares of the company were exchanged, compared to its average volume of 1,032,773. The stock has a market capitalization of $32.93 billion, a PE ratio of 13.34, a PEG ratio of 3.27 and a beta of 0.75. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank has a 52 week low of $108.53 and a 52 week high of $200.94. The company’s 50 day moving average price is $172.23 and its 200 day moving average price is $158.27.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the prior year, the business earned $5.12 EPS. Sell-side analysts forecast that M&T Bank will post 14.16 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares in the company, valued at $2,617,378.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several large investors have recently added to or reduced their stakes in MTB. Hexagon Capital Partners LLC increased its stake in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after buying an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after acquiring an additional 70 shares during the period. Umpqua Bank lifted its position in shares of M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 73 shares in the last quarter. Finally, Procyon Advisors LLC boosted its stake in shares of M&T Bank by 1.7% in the third quarter. Procyon Advisors LLC now owns 4,544 shares of the financial services provider’s stock worth $809,000 after acquiring an additional 74 shares during the period. Hedge funds and other 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.