Jefferies Financial Group Lowers M&T Bank (NYSE:MTB) Price Target to $275.00

M&T Bank (NYSE:MTB) had its price objective decreased by equities research analysts at Jefferies Financial Group from $300.00 to $275.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 25.26% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $251.50 to $265.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, July 16th. Evercore set a $260.00 target price on shares of M&T Bank in a research report on Monday, July 6th. Finally, Cantor Fitzgerald boosted their price objective on shares of M&T Bank from $262.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.82.

M&T Bank Trading Down 1.7%

Shares of NYSE:MTB opened at $219.55 on Thursday. M&T Bank has a 52-week low of $174.76 and a 52-week high of $255.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $31.71 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.27 and a beta of 0.56. The stock’s 50-day moving average is $242.74 and its 200-day moving average is $226.74.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $4.28 earnings per share. Equities research analysts predict that M&T Bank will post 19.45 earnings per share for the current year.

Insider Buying and Selling at M&T Bank

In other news, CEO René Jones sold 19,396 shares of M&T Bank stock in a transaction on Monday, September 14th. The shares were sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the transaction, the chief executive officer owned 103,831 shares in the company, valued at approximately $24,851,949.85. The trade was a 15.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,028 shares of company stock valued at $4,794,884 in the last ninety days. Insiders own 0.44% of the company’s stock.

Institutional Trading of M&T Bank

Several hedge funds have recently bought and sold shares of MTB. QRG Capital Management Inc. boosted its stake in M&T Bank by 17.4% during the 2nd quarter. QRG Capital Management Inc. now owns 18,237 shares of the financial services provider’s stock valued at $4,341,000 after purchasing an additional 2,704 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of M&T Bank by 6.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,192 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 188 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of M&T Bank by 3.6% in the second quarter. Envestnet Asset Management Inc. now owns 318,844 shares of the financial services provider’s stock valued at $75,888,000 after purchasing an additional 11,169 shares in the last quarter. Andra AP fonden bought a new stake in M&T Bank during the 2nd quarter worth approximately $4,047,000. Finally, Sequoia Financial Advisors LLC increased its stake in M&T Bank by 7.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,239 shares of the financial services provider’s stock worth $2,199,000 after acquiring an additional 627 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.