Jefferies Financial Group Issues Positive Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its price objective upped by stock analysts at Jefferies Financial Group from $255.00 to $265.00 in a report issued on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target points to a potential upside of 25.93% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Cantor Fitzgerald lifted their price objective on shares of M&T Bank from $238.00 to $255.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial set a $230.00 target price on shares of M&T Bank in a research note on Tuesday, January 20th. Piper Sandler increased their target price on shares of M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Finally, The Goldman Sachs Group raised their price target on shares of M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $232.87.

M&T Bank Stock Down 2.6%

NYSE:MTB opened at $210.43 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $31.35 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 0.95 and a beta of 0.58. M&T Bank has a one year low of $150.75 and a one year high of $239.00. The stock has a 50-day simple moving average of $219.16 and a 200 day simple moving average of $202.30.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the firm posted $3.77 earnings per share. Sell-side analysts predict that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Buying and Selling

In other M&T Bank news, EVP Michael A. Wisler sold 8,237 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $223.48, for a total value of $1,840,804.76. Following the sale, the executive vice president directly owned 4,643 shares of the company’s stock, valued at $1,037,617.64. This trade represents a 63.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 21,193 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $235.85, for a total value of $4,998,369.05. Following the completion of the sale, the director owned 15,142 shares in the company, valued at $3,571,240.70. The trade was a 58.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 49,092 shares of company stock valued at $11,182,250 over the last three months. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in M&T Bank by 3.6% in 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 purchasing an additional 49,336 shares during the last quarter. Canoe Financial LP raised its holdings in shares of M&T Bank by 50.5% during the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after buying an additional 219,065 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of M&T Bank by 6.2% during the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after buying an additional 33,920 shares during the last quarter. Barclays PLC boosted its position in shares of M&T Bank by 3.9% during the fourth quarter. Barclays PLC now owns 530,305 shares of the financial services provider’s stock worth $106,846,000 after buying an additional 20,120 shares during the period. Finally, Davis Asset Management L.P. boosted its position in shares of M&T Bank by 23.1% during the fourth quarter. Davis Asset Management L.P. now owns 400,000 shares of the financial services provider’s stock worth $80,592,000 after buying an additional 75,000 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

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.