M&T Bank (NYSE:MTB) Given New $230.00 Price Target at UBS Group

M&T Bank (NYSE:MTB) had its price target hoisted by equities researchers at UBS Group from $217.00 to $230.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price indicates a potential downside of 3.44% from the company’s previous close.

Several other brokerages have also recently commented on MTB. Royal Bank Of Canada raised their price objective on shares of M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Bank of America reiterated a “neutral” rating and set a $225.00 target price on shares of M&T Bank in a report on Wednesday, January 7th. Barclays lifted their price target on shares of M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Piper Sandler lifted their price objective on M&T Bank from $225.00 to $235.00 in a research report on Friday, January 16th. Finally, TD Cowen reiterated a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $225.45.

M&T Bank Stock Up 1.8%

M&T Bank stock opened at $238.19 on Wednesday. The stock’s 50 day moving average price is $209.68 and its 200 day moving average price is $197.48. M&T Bank has a 1-year low of $150.75 and a 1-year high of $238.54. The company has a market cap of $36.61 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60. 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 (NYSE:MTB) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the business posted $3.77 earnings per share. On average, sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the transaction, the executive vice president owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This trade represents a 48.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $3,944,991.46. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,912 shares of company stock valued at $6,489,862 in the last three months. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust lifted its stake in shares of M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of M&T Bank during the 3rd quarter valued at about $32,000. Golden State Wealth Management LLC raised its holdings in shares of M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after buying an additional 155 shares during the period. Elyxium Wealth LLC acquired a new position in M&T Bank during the 4th quarter worth approximately $33,000. Finally, Ameriflex Group Inc. grew its position in M&T Bank by 82.4% in the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. 84.68% of the stock is 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.