M&T Bank (NYSE:MTB) PT Raised to $208.00 at Royal Bank of Canada

M&T Bank (NYSE:MTB) had its price objective boosted by research analysts at Royal Bank of Canada from $190.00 to $208.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 3.75% from the company’s previous close.

A number of other brokerages have also recently weighed in on MTB. Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $187.00 to $210.00 in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Finally, DA Davidson lifted their target price on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $187.88.

M&T Bank Trading Up 0.8 %

Shares of MTB opened at $200.49 on Friday. The business’s 50-day moving average price is $172.23 and its 200 day moving average price is $158.27. The stock has a market capitalization of $33.45 billion, a P/E ratio of 13.56, a P/E/G ratio of 3.27 and a beta of 0.75. M&T Bank has a 1-year low of $108.53 and a 1-year high of $200.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for 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 quarter last year, the business posted $5.12 EPS. Analysts expect that M&T Bank will post 14.16 earnings per share for the current year.

Insider Buying and Selling

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,699 shares of company stock valued at $5,115,349. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in M&T Bank during the first quarter worth about $30,000. Hexagon Capital Partners LLC grew its holdings in shares of M&T Bank by 54.4% during the 3rd 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. Oakworth Capital Inc. bought a new stake in shares of M&T Bank during the second quarter valued at approximately $35,000. nVerses Capital LLC bought a new stake in shares of M&T Bank during the third quarter valued at approximately $53,000. Finally, Versant Capital Management Inc lifted its position in M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 201 shares during the period. 84.68% of the stock is owned by institutional investors.

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.