M&T Bank (NYSE:MTB) Given New $271.00 Price Target at Morgan Stanley

M&T Bank (NYSE:MTB) had its target price upped by research analysts at Morgan Stanley from $251.00 to $271.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 23.43% from the stock’s current price.

Several other equities research analysts have also issued reports on MTB. Jefferies Financial Group upped their price target on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Citigroup increased their target price on shares of M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, January 2nd. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Cantor Fitzgerald increased their price objective on shares of M&T Bank from $228.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Robert W. Baird lifted their target price on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $231.45.

M&T Bank Stock Up 1.2%

Shares of MTB stock traded up $2.58 during trading hours on Monday, hitting $219.56. 332,528 shares of the company were exchanged, compared to its average volume of 1,280,494. The stock has a market capitalization of $32.71 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.95 and a beta of 0.60. M&T Bank has a one year low of $150.75 and a one year high of $239.00. The business’s 50-day simple moving average is $218.15 and its two-hundred day simple moving average is $201.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating 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 $1.79 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company earned $3.77 earnings per share. Sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Activity

In other news, Vice Chairman Gary N. Geisel sold 887 shares of M&T Bank stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the sale, the insider owned 16,446 shares of the company’s stock, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 909 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the transaction, the director directly owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This trade represents a 13.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 40,855 shares of company stock valued at $9,341,446. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MTB. Golden State Wealth Management LLC grew its holdings in M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 155 shares during the period. Bank of Jackson Hole Trust grew its stake in M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares in the last quarter. Triumph Capital Management acquired a new position in shares of M&T Bank in the 3rd quarter valued at about $32,000. Elyxium Wealth LLC purchased a new stake in shares of M&T Bank in the fourth quarter worth approximately $33,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of M&T Bank during the second quarter worth approximately $36,000. 84.68% of the stock is currently owned by 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.