M&T Bank (NYSE:MTB) Given New $244.50 Price Target at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its target price raised by research analysts at JPMorgan Chase & Co. from $217.00 to $244.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 3.44% from the stock’s current price.

Several other equities analysts also recently commented on the company. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Bank of America restated a “neutral” rating and set a $225.00 price target on shares of M&T Bank in a report on Wednesday, January 7th. Keefe, Bruyette & Woods increased their price target on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Robert W. Baird raised their price target on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Finally, Evercore lowered M&T Bank from an “outperform” rating to a “hold” rating and lifted their target price for the company from $210.00 to $225.00 in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $228.50.

M&T Bank Stock Down 0.7%

MTB stock traded down $1.63 during trading on Monday, hitting $236.38. 795,885 shares of the stock traded hands, compared to its average volume of 1,291,708. The firm’s 50 day moving average is $209.68 and its two-hundred day moving average is $197.49. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. M&T Bank has a 1 year low of $150.75 and a 1 year high of $238.55. The stock has a market cap of $36.33 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.04 and a beta of 0.60.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same period in the previous year, the business posted $3.77 earnings per share. On average, sell-side analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director John P. Barnes sold 17,866 shares of M&T Bank stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total value of $3,944,991.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 909 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the sale, the director directly owned 5,976 shares of the company’s stock, valued at approximately $1,358,763.12. This represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 30,912 shares of company stock worth $6,489,862. 0.53% of the stock is currently owned by insiders.

Institutional Trading of M&T Bank

Institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its stake 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 worth $31,000 after purchasing an additional 155 shares during the period. Bank of Jackson Hole Trust boosted its position in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after buying an additional 120 shares in the last quarter. Triumph Capital Management bought a new stake in M&T Bank during the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank during the fourth quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in M&T Bank in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.