Evercore ISI Raises M&T Bank (NYSE:MTB) Price Target to $157.00

M&T Bank (NYSE:MTB) had its price objective raised by research analysts at Evercore ISI from $146.00 to $157.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target suggests a potential upside of 7.99% from the company’s current price.

MTB has been the subject of several other research reports. Morgan Stanley upped their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price target on the stock. in a research report on Monday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Friday, January 19th. Piper Sandler dropped their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. Finally, Barclays upped their price target on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $150.17.

M&T Bank Stock Up 0.4 %

Shares of NYSE:MTB traded up $0.58 during trading on Thursday, hitting $145.38. 94,023 shares of the company were exchanged, compared to its average volume of 1,213,051. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50 day moving average price is $138.81 and its 200-day moving average price is $131.30. The stock has a market capitalization of $24.22 billion, a P/E ratio of 9.21, a PEG ratio of 1.25 and a beta of 0.79. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.23.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.36). The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same period in the previous year, the firm posted $4.57 earnings per share. On average, research analysts predict that M&T Bank will post 13.87 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock worth $5,114,624 in the last quarter. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTB. Virtu Financial LLC grew its stake in shares of M&T Bank by 17,405.3% during the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock valued at $105,417,000 after acquiring an additional 5,243,349 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of M&T Bank by 113.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock valued at $42,949,000 after buying an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC grew its position in shares of M&T Bank by 217.0% during the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock worth $66,759,000 after buying an additional 2,286,251 shares in the last quarter. Norges Bank acquired a new stake in shares of M&T Bank during the fourth quarter worth approximately $232,322,000. Finally, Goldman Sachs Group Inc. raised its holdings in M&T Bank by 76.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after acquiring an additional 1,538,436 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.