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

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

Several other equities research analysts also recently commented on MTB. Barclays boosted their target price on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Piper Sandler reduced their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. UBS Group upped their price target on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. DA Davidson reiterated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $150.17.

M&T Bank Stock Performance

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

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

Insider Activity

In related news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock valued at $5,114,624 in the last ninety days. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On M&T Bank

Large investors have recently bought and sold shares of the company. Nomura Holdings Inc. boosted its holdings in shares of M&T Bank by 98.3% in the 4th quarter. Nomura Holdings Inc. now owns 19,588 shares of the financial services provider’s stock valued at $2,685,000 after buying an additional 9,708 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of M&T Bank in the 4th quarter valued at approximately $788,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in M&T Bank by 19.3% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 67,988 shares of the financial services provider’s stock valued at $9,320,000 after acquiring an additional 10,988 shares during the period. Hennessy Advisors Inc. raised its stake in M&T Bank by 26.3% in the 4th quarter. Hennessy Advisors Inc. now owns 12,000 shares of the financial services provider’s stock valued at $1,645,000 after acquiring an additional 2,500 shares during the period. Finally, MONECO Advisors LLC raised its stake in M&T Bank by 16.3% in the 4th quarter. MONECO Advisors LLC now owns 3,609 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 507 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

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.