Keefe, Bruyette & Woods Increases M&T Bank (NYSE:MTB) Price Target to $180.00

M&T Bank (NYSE:MTB) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $170.00 to $180.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 8.93% from the company’s current price.

A number of other brokerages have also weighed in on MTB. Wells Fargo & Company increased their target price on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Wedbush reiterated an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. Bank of America increased their target price on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Evercore ISI increased their target price 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, Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $166.79.

M&T Bank Stock Performance

MTB opened at $165.25 on Friday. M&T Bank has a 12-month low of $108.53 and a 12-month high of $175.00. The stock has a market cap of $27.57 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 3.91 and a beta of 0.77. The business has a 50 day moving average of $150.48 and a 200-day moving average of $143.76. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period last year, the firm posted $5.12 earnings per share. On average, equities research analysts expect that M&T Bank will post 13.9 earnings per share for the current year.

Insider Activity

In other news, Director John P. Barnes sold 10,000 shares of M&T Bank stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total value of $1,471,100.00. Following the transaction, the director now owns 34,545 shares in the company, valued at approximately $5,081,914.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the sale, the executive vice president now owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John P. Barnes sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the sale, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,915 shares of company stock worth $14,497,759. Insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several hedge funds have recently modified their holdings of MTB. American Century Companies Inc. boosted its holdings in shares of M&T Bank by 14.4% during the 3rd quarter. American Century Companies Inc. now owns 43,060 shares of the financial services provider’s stock valued at $5,445,000 after acquiring an additional 5,405 shares in the last quarter. Nordea Investment Management AB lifted its holdings in M&T Bank by 3.3% during the 4th quarter. Nordea Investment Management AB now owns 12,407 shares of the financial services provider’s stock worth $1,707,000 after buying an additional 396 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in M&T Bank during the 4th quarter worth about $33,000. BKM Wealth Management LLC acquired a new position in M&T Bank during the 4th quarter worth about $32,000. Finally, Dynamic Advisor Solutions LLC lifted its holdings in M&T Bank by 40.8% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,985 shares of the financial services provider’s stock worth $1,242,000 after buying an additional 2,605 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.