M&T Bank (NYSE:MTB) Price Target Lowered to $205.00 at Evercore ISI

M&T Bank (NYSE:MTB) had its target price cut by analysts at Evercore ISI from $234.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s target price would indicate a potential upside of 18.66% from the company’s current price.

MTB has been the subject of a number of other reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. DA Davidson raised their price target on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Truist Financial restated a “buy” rating and set a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Barclays increased their target price on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Piper Sandler boosted their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average price target of $220.09.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $0.70 on Thursday, reaching $172.77. 229,823 shares of the company’s stock were exchanged, compared to its average volume of 1,299,257. M&T Bank has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The business’s 50-day moving average is $193.13 and its two-hundred day moving average is $191.92. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $28.38 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.38 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the previous year, the company earned $2.74 EPS. As a group, equities research analysts forecast that M&T Bank will post 16.57 EPS for the current year.

M&T Bank declared that its board has authorized a stock repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of M&T Bank

Large investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its position in M&T Bank by 34.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 2,018 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in shares of M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 1,295 shares during the period. Summit Trail Advisors LLC purchased a new position in M&T Bank during the fourth quarter valued at approximately $290,000. US Bancorp DE increased its stake in M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock valued at $1,576,000 after buying an additional 1,639 shares during the period. Finally, Smead Capital Management Inc. lifted its position in M&T Bank by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after buying an additional 16,657 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.