M&T Bank (NYSE:MTB) Given New $200.00 Price Target at Royal Bank of Canada

M&T Bank (NYSE:MTB - Get Free Report) had its price target dropped by investment analysts at Royal Bank of Canada from $208.00 to $200.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's price target points to a potential upside of 24.93% from the company's previous close.

A number of other equities analysts also recently weighed in on the stock. StockNews.com raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. DA Davidson cut their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Tuesday. Wells Fargo & Company lowered their price target on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday. Morgan Stanley reduced their price objective on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Robert W. Baird dropped their target price on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $208.14.

M&T Bank Price Performance

MTB traded up $1.19 during midday trading on Tuesday, reaching $160.09. 1,105,142 shares of the company's stock were exchanged, compared to its average volume of 1,112,880. The business's 50-day moving average price is $177.25 and its 200 day moving average price is $191.10. The stock has a market capitalization of $26.30 billion, a PE ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank has a 1-year low of $139.56 and a 1-year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the business posted $3.09 EPS. As a group, equities analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

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

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lesa Sroufe & Co bought a new stake in M&T Bank during the first quarter worth about $4,085,000. Grove Bank & Trust increased its stake in shares of M&T Bank by 104.6% in the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 114 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of M&T Bank by 7.2% during the first quarter. QRG Capital Management Inc. now owns 2,868 shares of the financial services provider's stock valued at $513,000 after purchasing an additional 193 shares during the period. Janney Montgomery Scott LLC raised its stake in M&T Bank by 1.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 86,078 shares of the financial services provider's stock worth $15,386,000 after buying an additional 1,605 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of M&T Bank by 53.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock worth $94,000 after purchasing an additional 184 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

About M&T Bank

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.