Robert W. Baird Cuts M&T Bank (NYSE:MTB) Price Target to $200.00

M&T Bank (NYSE:MTB - Get Free Report) had its target price lowered by equities researchers at Robert W. Baird from $220.00 to $200.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Robert W. Baird's price target indicates a potential upside of 24.93% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. DA Davidson increased their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. Citigroup cut their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company reduced their target price on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a research note on Friday, March 28th. Finally, Truist Financial decreased their price objective on shares of M&T Bank from $236.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $208.14.

M&T Bank Price Performance

MTB traded up $1.19 on Tuesday, reaching $160.09. The company had a trading volume of 1,105,142 shares, compared to its average volume of 1,112,880. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank has a 52-week low of $139.56 and a 52-week high of $225.70. The business has a 50 day simple moving average of $178.03 and a 200 day simple moving average of $191.19.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data 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). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $3.09 earnings per share. As a group, sell-side analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.53% of the company's stock.

Institutional Trading of M&T Bank

A number of hedge funds and other institutional investors have recently modified their holdings of MTB. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at about $29,000. Banque Transatlantique SA acquired a new stake in M&T Bank during the fourth quarter valued at $38,000. Y.D. More Investments Ltd lifted its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after buying an additional 114 shares during the last quarter. Grove Bank & Trust boosted its stake in M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 114 shares during the period. Finally, Human Investing LLC acquired a new position in shares of M&T Bank during the fourth quarter valued at about $44,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

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