Wells Fargo & Company Issues Positive Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its price objective hoisted by investment analysts at Wells Fargo & Company from $190.00 to $205.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 3.88% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $199.65.

M&T Bank Trading Up 0.6 %

Shares of MTB stock opened at $213.27 on Friday. M&T Bank has a 1 year low of $123.37 and a 1 year high of $216.84. The firm has a fifty day moving average price of $185.26 and a 200-day moving average price of $166.25. The company has a market cap of $35.39 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. As a group, equities analysts predict that M&T Bank will post 14.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,854 shares of company stock worth $13,637,588 in the last three months. Corporate insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Several large investors have recently added to or reduced their stakes in MTB. Plato Investment Management Ltd increased its stake in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the third quarter valued at $32,000. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the second quarter valued at approximately $35,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Company Profile

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.