M&T Bank (NYSE:MTB) Given New $251.50 Price Target at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its target price lifted by analysts at JPMorgan Chase & Co. from $227.00 to $251.50 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 5.29% from the stock’s current price.

Several other equities analysts also recently weighed in on MTB. The Goldman Sachs Group lifted their target price on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, April 6th. Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research report on Thursday, June 4th. Jefferies Financial Group raised their price objective on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Robert W. Baird restated a “neutral” rating and issued a $240.00 price objective on shares of M&T Bank in a report on Monday. Finally, Royal Bank Of Canada upped their target price on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Seven investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, M&T Bank has an average rating of “Hold” and a consensus target price of $237.82.

M&T Bank Stock Down 0.0%

Shares of NYSE MTB opened at $238.85 on Monday. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.17 and a beta of 0.57. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. M&T Bank has a 52-week low of $174.76 and a 52-week high of $243.57. The business’s 50 day moving average is $220.63 and its two-hundred day moving average is $216.43.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.43 billion. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.During the same period in the previous year, the firm posted $3.32 earnings per share. Research analysts predict that M&T Bank will post 18.8 EPS for the current year.

M&T Bank declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 31st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction dated 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 directly owned 6,753 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MTB. Bank of New York Mellon Corp grew its holdings in M&T Bank by 3.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,416,224 shares of the financial services provider’s stock worth $285,341,000 after acquiring an additional 49,336 shares in the last quarter. Canoe Financial LP increased its position in shares of M&T Bank by 50.5% in the 4th quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after purchasing an additional 219,065 shares during the last quarter. Barclays PLC raised its holdings in shares of M&T Bank by 3.9% in the 4th quarter. Barclays PLC now owns 530,305 shares of the financial services provider’s stock valued at $106,846,000 after purchasing an additional 20,120 shares in the last quarter. Davis Asset Management L.P. raised its holdings in shares of M&T Bank by 23.1% in the 4th quarter. Davis Asset Management L.P. now owns 400,000 shares of the financial services provider’s stock valued at $80,592,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of M&T Bank by 35.4% in the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock valued at $79,954,000 after purchasing an additional 103,692 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

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.