Analysts Set M&T Bank Corporation (NYSE:MTB) PT at $251.43

M&T Bank Corporation (NYSE:MTB) has been assigned an average rating of “Hold” from the twenty-two ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $253.5250.

MTB has been the subject of a number of recent research reports. DA Davidson lifted their price target on shares of M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Piper Sandler upped their price objective on shares of M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Morgan Stanley raised their target price on shares of M&T Bank from $245.00 to $253.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. UBS Group set a $280.00 target price on shares of M&T Bank in a report on Wednesday. Finally, Evercore set a $260.00 price target on M&T Bank in a research report on Monday, July 6th.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $250.61 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $36.70 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.17 and a beta of 0.57. The business has a fifty day simple moving average of $232.79 and a two-hundred day simple moving average of $221.46. M&T Bank has a 12 month low of $174.76 and a 12 month high of $255.00.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the previous year, the business posted $4.28 EPS. On average, equities analysts forecast that M&T Bank will post 19.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of M&T Bank stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president owned 6,753 shares in the company, valued at approximately $1,462,024.50. The trade was a 31.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Large investors have recently modified their holdings of the stock. Bogart Wealth LLC boosted its stake in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 84 shares in the last quarter. Triumph Capital Management bought a new stake in M&T Bank during the 3rd quarter valued at about $32,000. Elyxium Wealth LLC purchased a new position in M&T Bank in the fourth quarter worth about $33,000. Bank of Jackson Hole Trust raised its holdings in M&T Bank by 38.7% in the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after buying an additional 60 shares during the last quarter. Finally, Hoese & Co LLP bought a new position in shares of M&T Bank in the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.