Evercore ISI Reiterates In-Line Rating for M&T Bank (NYSE:MTB)

M&T Bank (NYSE:MTB)‘s stock had its “in-line” rating restated by analysts at Evercore ISI in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $225.00 target price on the financial services provider’s stock, up from their prior target price of $210.00. Evercore ISI’s price target points to a potential upside of 7.17% from the stock’s current price.

MTB has been the subject of several other reports. Cantor Fitzgerald started coverage on M&T Bank in a report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 target price for the company. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a report on Monday, December 29th. Barclays lifted their target price on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Citigroup raised their price objective on shares of M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.69.

M&T Bank Price Performance

MTB stock traded up $0.50 on Tuesday, hitting $209.95. 87,336 shares of the company’s stock traded hands, compared to its average volume of 673,001. The stock has a market cap of $32.27 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.87 and a beta of 0.59. M&T Bank has a 1-year low of $150.75 and a 1-year high of $211.30. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $194.14 and a 200-day moving average of $193.93.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The company had revenue of $1.54 billion for the quarter. On average, analysts forecast that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This represents a 26.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher E. Kay sold 5,250 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the sale, the executive vice president owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This represents a 48.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Canoe Financial LP lifted its stake in shares of M&T Bank by 46.8% in the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after buying an additional 138,173 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in M&T Bank by 27.3% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 1,741 shares during the last quarter. Ethic Inc. lifted its position in M&T Bank by 20.8% during the 2nd quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock worth $4,988,000 after acquiring an additional 4,432 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in M&T Bank by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after acquiring an additional 13,749 shares during the period. Finally, Marshall Wace LLP grew its position in shares of M&T Bank by 6.2% in the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after purchasing an additional 33,920 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.