M&T Bank (NYSE:MTB) Receives “Outperform” Rating from Wedbush

M&T Bank (NYSE:MTB)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $170.00 price objective on the financial services provider’s stock. Wedbush’s target price suggests a potential upside of 25.80% from the company’s previous close.

Several other research analysts also recently issued reports on MTB. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Jefferies Financial Group cut their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday. Piper Sandler cut their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Friday, January 19th. Finally, DA Davidson reiterated a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $155.21.

M&T Bank Stock Performance

MTB traded down $5.63 during trading on Wednesday, reaching $135.13. The company’s stock had a trading volume of 575,621 shares, compared to its average volume of 1,183,065. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The company’s fifty day moving average price is $139.15 and its 200-day moving average price is $132.33.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company 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 earnings per share. On average, equities analysts forecast that M&T Bank will post 13.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the transaction, the executive vice president now owns 5,000 shares in the company, valued at approximately $718,000. The disclosure for this sale can be found here. In the last three months, insiders sold 35,481 shares of company stock valued at $5,114,624. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors have recently modified their holdings of the stock. Penserra Capital Management LLC raised its stake in shares of M&T Bank by 7.8% in the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 67 shares in the last quarter. Carnegie Capital Asset Management LLC raised its stake in shares of M&T Bank by 2.6% in the 3rd quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 80 shares in the last quarter. Burns J W & Co. Inc. NY raised its stake in shares of M&T Bank by 1.3% in the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 80 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 80 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of M&T Bank by 2.3% in the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.