M&T Bank (NYSE:MTB) Price Target Raised to $243.00

M&T Bank (NYSE:MTB - Get Free Report) had its price objective increased by research analysts at The Goldman Sachs Group from $216.00 to $243.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's price target would suggest a potential upside of 10.07% from the company's current price.

Several other research analysts have also recently weighed in on the company. Evercore ISI boosted their price target on M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. DA Davidson raised their target price on M&T Bank from $192.00 to $207.00 and gave the stock a "neutral" rating in a research report on Monday, October 21st. Royal Bank of Canada raised their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an "outperform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, Citigroup lowered M&T Bank from a "buy" rating to a "neutral" rating and raised their target price for the company from $220.00 to $230.00 in a report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $203.29.

M&T Bank Stock Down 0.5 %

Shares of M&T Bank stock traded down $1.18 during trading on Tuesday, hitting $220.77. 778,449 shares of the stock traded hands, compared to its average volume of 1,041,337. The stock's fifty day simple moving average is $192.95 and its 200 day simple moving average is $170.23. M&T Bank has a 52-week low of $123.46 and a 52-week high of $225.70. The firm has a market cap of $36.63 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, equities analysts predict that M&T Bank will post 14.56 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares of the company's stock, valued at $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company's stock, valued at approximately $7,724,491.06. This represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,383 shares of company stock valued at $17,925,801 in the last ninety days. Company insiders own 0.82% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTB. Hedeker Wealth LLC lifted its stake in shares of M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock valued at $627,000 after buying an additional 55 shares during the period. Frank Rimerman Advisors LLC grew its holdings in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock worth $1,005,000 after purchasing an additional 57 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider's stock worth $553,000 after buying an additional 57 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 68 shares during the period. Finally, Meitav Investment House Ltd. raised its stake in shares of M&T Bank by 3.1% during the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider's stock valued at $386,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds 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.