M&T Bank (NYSE:MTB) Price Target Raised to $255.00 at Jefferies Financial Group

M&T Bank (NYSE:MTB) had its target price increased by analysts at Jefferies Financial Group from $250.00 to $255.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 16.54% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Evercore downgraded shares of M&T Bank from an “outperform” rating to a “hold” rating and lifted their price target for the stock from $210.00 to $225.00 in a research note on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of M&T Bank in a research note on Wednesday, January 7th. Piper Sandler lifted their target price on M&T Bank from $225.00 to $235.00 in a research report on Friday, January 16th. Robert W. Baird increased their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Finally, Royal Bank Of Canada lifted their price objective on M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $230.24.

M&T Bank Stock Up 3.2%

NYSE MTB traded up $6.80 during trading hours on Wednesday, hitting $218.82. The company had a trading volume of 23,739 shares, compared to its average volume of 1,266,698. The firm’s 50 day moving average is $216.07 and its 200 day moving average is $203.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank has a fifty-two week low of $152.66 and a fifty-two week high of $239.00. The company has a market capitalization of $32.60 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.00 and a beta of 0.60.

M&T Bank (NYSE:MTB) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period last year, the business posted $3.77 EPS. Sell-side analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 16.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at M&T Bank

In other news, EVP Michael A. Wisler sold 8,237 shares of M&T Bank stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the transaction, the executive vice president directly owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. The trade was a 63.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Barnes sold 21,193 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the sale, the director directly owned 15,142 shares of the company’s stock, valued at approximately $3,571,240.70. This represents a 58.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,092 shares of company stock worth $11,182,250 in the last ninety days. 0.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Institutional investors have recently made changes to their positions in the stock. SHP Wealth Management acquired a new position in M&T Bank during the 4th quarter valued at approximately $183,000. Tobam acquired a new stake in M&T Bank in the fourth quarter worth $567,000. Virtu Financial LLC bought a new stake in M&T Bank in the fourth quarter valued at $708,000. Garton & Associates Financial Advisors LLC bought a new stake in M&T Bank in the fourth quarter valued at $200,000. Finally, Quantitative Investment Management LLC acquired a new position in shares of M&T Bank during the fourth quarter valued at $1,769,000. 84.68% of the stock is owned by 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.