Jefferies Financial Group Raises M&T Bank (NYSE:MTB) Price Target to $161.00

M&T Bank (NYSE:MTB) had its target price lifted by investment analysts at Jefferies Financial Group from $160.00 to $161.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price points to a potential upside of 7.33% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $170.00 target price on shares of M&T Bank in a report on Thursday, June 27th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. DA Davidson reissued a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Evercore ISI raised their price target on M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, Bank of America boosted their price objective on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $161.58.

M&T Bank Stock Down 1.1 %

Shares of MTB traded down $1.72 during midday trading on Wednesday, reaching $150.01. The stock had a trading volume of 238,867 shares, compared to its average volume of 1,037,316. The company has a market cap of $25.03 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.97 and a beta of 0.77. The company’s fifty day simple moving average is $148.50 and its two-hundred day simple moving average is $142.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 1-year low of $108.53 and a 1-year high of $156.65.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the prior year, the company posted $4.09 earnings per share. Equities research analysts expect that M&T Bank will post 13.99 earnings per share for the current year.

Insider Activity

In related news, Director Kirk W. Walters sold 16,179 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the sale, the director now owns 6,348 shares in the company, valued at $939,567.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 16,179 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the transaction, the director now owns 6,348 shares of the company’s stock, valued at $939,567.48. The disclosure for this sale can be found here. Insiders sold 97,553 shares of company stock valued at $14,724,147 in the last three months. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of M&T Bank

Several large investors have recently modified their holdings of MTB. GSA Capital Partners LLP purchased a new stake in shares of M&T Bank during the third quarter worth about $833,000. Stevens Capital Management LP purchased a new position in shares of M&T Bank in the 4th quarter valued at $320,000. Matrix Asset Advisors Inc. NY lifted its stake in shares of M&T Bank by 15.7% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after purchasing an additional 12,590 shares in the last quarter. Smead Capital Management Inc. purchased a new position in M&T Bank in the 4th quarter worth approximately $59,418,000. Finally, Rafferty Asset Management LLC grew its holdings in M&T Bank by 72.1% during the 4th quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after purchasing an additional 100,526 shares in the last quarter. 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.