M&T Bank (NYSE:MTB) Price Target Raised to $285.00 at Cantor Fitzgerald

M&T Bank (NYSE:MTB) had its price objective hoisted by equities researchers at Cantor Fitzgerald from $262.00 to $285.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price points to a potential upside of 13.22% from the company’s current price.

MTB has been the topic of several other research reports. Keefe, Bruyette & Woods increased their target price on shares of M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a research note on Thursday, July 16th. Wells Fargo & Company raised their price objective on shares of M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. DA Davidson boosted their target price on M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Robert W. Baird increased their price target on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Morgan Stanley raised their price target on M&T Bank from $245.00 to $253.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $253.43.

M&T Bank Trading Down 0.4%

MTB stock opened at $251.73 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank has a 1-year low of $174.76 and a 1-year high of $255.95. The business has a 50 day simple moving average of $242.38 and a two-hundred day simple moving average of $225.16. The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.18 and a beta of 0.57.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period in the previous year, the firm posted $4.28 earnings per share. Research analysts anticipate that M&T Bank will post 19.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MTB. Bank of New York Mellon Corp purchased a new stake in shares of M&T Bank in the 2nd quarter worth $330,978,000. Davis Asset Management L.P. bought a new stake in shares of M&T Bank in the second quarter valued at about $97,584,000. Danske Bank A S bought a new stake in shares of M&T Bank in the third quarter valued at about $29,612,000. Russell Investments Group Ltd. lifted its stake in M&T Bank by 35.4% in the fourth quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock worth $79,954,000 after acquiring an additional 103,692 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its stake in M&T Bank by 37.1% in the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after acquiring an additional 95,025 shares during the period. 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.