Wells Fargo & Company Increases M&T Bank (NYSE:MTB) Price Target to $150.00

M&T Bank (NYSE:MTB) had its price target hoisted by investment analysts at Wells Fargo & Company from $145.00 to $150.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.47% from the stock’s current price.

Several other research firms have also recently commented on MTB. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research note on Tuesday. DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research note on Wednesday, March 6th. Keefe, Bruyette & Woods upped their price target on M&T Bank from $155.00 to $162.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Jefferies Financial Group cut their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $156.92.

M&T Bank Trading Up 4.7 %

MTB opened at $140.88 on Tuesday. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23. The business’s 50 day moving average is $139.33 and its two-hundred day moving average is $132.65. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period last year, the firm earned $4.09 EPS. On average, research analysts predict that M&T Bank will post 13.89 EPS for the current year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,481 shares of company stock valued at $5,114,624. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

A number of hedge funds have recently added to or reduced their stakes in MTB. Raymond James & Associates boosted its stake in M&T Bank by 7.0% in the 1st quarter. Raymond James & Associates now owns 134,655 shares of the financial services provider’s stock worth $2,692,000 after buying an additional 8,765 shares during the last quarter. American Century Companies Inc. boosted its stake in M&T Bank by 112.8% in the 1st quarter. American Century Companies Inc. now owns 82,957 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 43,979 shares during the last quarter. US Bancorp DE boosted its stake in M&T Bank by 9.4% in the 1st quarter. US Bancorp DE now owns 15,149 shares of the financial services provider’s stock worth $303,000 after buying an additional 1,304 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in M&T Bank by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,394 shares of the financial services provider’s stock worth $1,187,000 after buying an additional 4,175 shares during the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new stake in M&T Bank in the 1st quarter worth about $306,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.