M&T Bank (NYSE:MTB) Price Target Raised to $205.00 at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price objective lifted by equities researchers at Wells Fargo & Company from $185.00 to $205.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 1.36% from the company’s current price.

MTB has been the subject of several other research reports. Cowen reaffirmed a “buy” rating on shares of M&T Bank in a research note on Monday, October 20th. TD Cowen upped their price target on M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Citigroup increased their price target on M&T Bank from $215.00 to $225.00 and gave the company a “neutral” rating in a report on Friday. Barclays set a $236.00 price objective on M&T Bank in a research note on Monday. Finally, Jefferies Financial Group raised their target price on M&T Bank from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Moderate Buy” and an average target price of $220.15.

M&T Bank Stock Up 1.9%

Shares of MTB opened at $207.84 on Monday. The stock has a 50 day moving average price of $193.61 and a 200 day moving average price of $193.73. M&T Bank has a one year low of $150.75 and a one year high of $208.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.87 and a beta of 0.59.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The company had revenue of $1.54 billion for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. Equities research analysts forecast that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total transaction of $1,140,360.00. Following the completion of the transaction, the director directly owned 17,070 shares in the company, valued at $3,244,324.20. This trade represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christopher E. Kay sold 5,250 shares of M&T Bank stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the sale, the executive vice president directly owned 5,501 shares of the company’s stock, valued at $1,054,541.70. The trade was a 48.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Jackson Hole Trust increased its stake in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the period. Triumph Capital Management acquired a new position in shares of M&T Bank in the third quarter valued at approximately $32,000. Golden State Wealth Management LLC grew its holdings in shares of M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Ameriflex Group Inc. increased its stake in M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in M&T Bank during the 2nd quarter worth approximately $36,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.