M&T Bank (NYSE: MTB – Get Rating) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $ 200.00 price target on the financial services provider’s stock, up from their previous price target of $ 175.00. Robert W. Baird’s price objective would indicate a potential upside of 23.20% from the company current price.
Several other equities research analysts have also recently issued reports on the company. Wolfe Research reduced their target price on M&T Bank from $ 214.00 to $ 187.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft increased their price target on M&T Bank from $ 180.00 to $ 200.00 in a research report on Friday, March 25th. Piper Sandler boosted their price target on M&T Bank from $ 200.00 to $ 210.00 in a research report on Wednesday, April 20th. Wedbush raised their price objective on M&T Bank from $ 187.00 to $ 212.00 in a research report on Thursday, April 21st. Finally, Citigroup assumed coverage on shares of M&T Bank in a research note on Thursday, March 24th. They set a “buy” rating for the company. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $ 194.62.
NYSE MTB opened at $ 162.34 on Friday. The stock’s fifty day moving average price is $ 169.45 and its 200-day moving average price is $ 169.61. The stock has a market cap of $ 29.13 billion, a P / E ratio of 12.40, a P / E / G ratio of 0.93 and a beta of 0.86. M&T Bank has a 12 month low of $ 128.46 and a 12 month high of $ 186.95. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21.
M&T Bank (NYSE: MTB – Get Rating) last announced its earnings results on Wednesday, April 20th. The financial services provider reported $ 2.73 EPS for the quarter, beating analysts’ consensus estimates of $ 2.26 by $ 0.47. The business had revenue of $ 1.45 billion during the quarter, compared to analysts’ expectations of $ 1.43 billion. M&T Bank had a net margin of 29.31% and a return on equity of 11.45%. During the same period in the prior year, the company earned $ 3.41 earnings per share. As a group, analysts forecast that M&T Bank will post 14.11 earnings per share for the current fiscal year.
M&T Bank announced that its board has authorized a share repurchase program on Tuesday, February 22nd that permits the company to repurchase $ 800.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company board of directors believes its stock is undervalued.
In related news, EVP Robert J. Bojdak sold 525 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $ 177.82, for a total transaction of $ 93,355.50. Following the completion of the transaction, the executive vice president now owns 19,075 shares of the company stock, valued at approximately $ 3,391,916.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher E. Kay sold 2,200 shares of the stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $ 178.83, for a total value of $ 393,426.00. Following the sale, the executive vice president now owns 5,350 shares of the company stock, valued at approximately $ 956,740.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,725 shares of company stock worth $ 1,335,332. 0.73% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Commerce Bank raised its stake in shares of M&T Bank by 1.2% in the 4th quarter. Commerce Bank now owns 4,979 shares of the financial services provider’s stock valued at $ 765,000 after buying an additional 57 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its holdings in M&T Bank by 2.1% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 2,774 shares of the financial services provider’s stock worth $ 426,000 after acquiring an additional 58 shares during the last quarter. River Wealth Advisors LLC boosted its stake in shares of M&T Bank by 1.6% in the 1st quarter. River Wealth Advisors LLC now owns 3,921 shares of the financial services provider’s stock valued at $ 665,000 after purchasing an additional 60 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of M&T Bank by 1.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,931 shares of the financial services provider’s stock valued at $ 757,000 after purchasing an additional 62 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of M&T Bank by 3.1% in the 1st quarter. DAVENPORT & Co LLC now owns 2,033 shares of the financial services provider’s stock valued at $ 345,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 87.61% of the company stock.
M&T Bank Company Profile: (Get Rating)
M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.
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