M&T Bank (NYSE:MTB) PT Raised to $160.00 at Bank of America

M&T Bank (NYSE:MTB) had its price target increased by analysts at Bank of America from $157.00 to $160.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target suggests a potential upside of 15.07% from the stock’s current price.

A number of other analysts have also recently commented on MTB. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. DA Davidson reaffirmed a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a report on Wednesday, March 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Friday, January 19th. Morgan Stanley upped their price target on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Barclays upped their price target on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $157.98.

M&T Bank Stock Up 1.2 %

MTB opened at $139.04 on Tuesday. M&T Bank has a twelve month low of $108.53 and a twelve month high of $148.23. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 1.30 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $139.61 and a 200-day moving average price of $132.77.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the company posted $4.09 earnings per share. Equities research analysts forecast that M&T Bank will post 13.89 earnings per share for the current year.

Insider Buying and Selling

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on 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 transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clear Street Markets LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $25,000. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $25,000. General Partner Inc. purchased a new stake in shares of M&T Bank in the first quarter valued at $27,000. RVW Wealth LLC purchased a new stake in shares of M&T Bank in the third quarter valued at $27,000. Finally, Quarry LP purchased a new stake in shares of M&T Bank in the first quarter valued at $27,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.