M&T Bank (NYSE:MTB) Price Target Raised to $180.00 at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $170.00 to $180.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 29.46% from the company’s current price.

Other analysts have also recently issued research reports about the company. UBS Group lifted their price objective on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday. Piper Sandler reduced their price objective on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a research report on Monday, December 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $157.98.

M&T Bank Stock Performance

Shares of MTB stock opened at $139.04 on Tuesday. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.30 and a beta of 0.80. The stock’s fifty day simple moving average is $139.61 and its 200-day simple moving average is $132.77.

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 analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the business posted $4.09 EPS. On average, sell-side analysts predict that M&T Bank will post 13.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,481 shares of company stock worth $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in M&T Bank during the third quarter worth approximately $833,000. Tokio Marine Asset Management Co. Ltd. lifted its position in M&T Bank by 8.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 305 shares during the last quarter. NBC Securities Inc. acquired a new stake in M&T Bank during the third quarter worth approximately $299,000. Metis Global Partners LLC increased its holdings in shares of M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares during the period. Finally, Matrix Asset Advisors Inc. NY increased its holdings 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 during the period. 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.