Wells Fargo & Company Increases M&T Bank (NYSE:MTB) Price Target to $150.00

M&T Bank (NYSE:MTB) had its price target lifted by Wells Fargo & Company from $145.00 to $150.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.88% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group reduced their target price on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Evercore ISI increased their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Barclays raised their price objective 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. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price objective for the company. in a research report on Monday, December 18th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of M&T Bank from $155.00 to $162.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $157.98.

M&T Bank Stock Performance

NYSE:MTB opened at $139.04 on Tuesday. The company has a fifty day moving average of $139.61 and a two-hundred day moving average of $132.77. The stock has a market capitalization of $23.17 billion, a PE ratio of 9.40, a P/E/G ratio of 1.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.23.

M&T Bank (NYSE:MTB) last issued 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). The business had revenue of $2.26 billion during 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 quarter last year, the company earned $4.09 earnings per share. As a group, research analysts forecast that M&T Bank will post 13.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock valued at $5,114,624 over the last 90 days. 0.82% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in shares of M&T Bank in the third quarter valued at approximately $833,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in M&T Bank by 8.3% in 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. purchased a new position in M&T Bank in the third quarter worth approximately $299,000. Metis Global Partners LLC lifted its stake in M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 931 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY lifted its stake in M&T Bank by 15.7% in 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 acquiring an additional 12,590 shares during the last quarter. 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.