M&T Bank (NYSE:MTB) Given New $210.00 Price Target at Piper Sandler

M&T Bank (NYSE:MTB) had its price target dropped by analysts at Piper Sandler from $220.00 to $210.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 29.08% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of M&T Bank from $208.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday. Morgan Stanley lowered their price objective on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Robert W. Baird cut their target price on M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday. Barclays lowered their price target on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Truist Financial cut their price objective on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.53.

M&T Bank Stock Up 2.6 %

M&T Bank stock traded up $4.19 during midday trading on Tuesday, reaching $162.69. The stock had a trading volume of 276,454 shares, compared to its average volume of 1,113,767. The company has a fifty day moving average price of $180.47 and a two-hundred day moving average price of $191.77. M&T Bank has a 12 month low of $136.18 and a 12 month high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $26.73 billion, a P/E ratio of 11.10, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share 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 period in the previous year, the company earned $3.09 earnings per share. As a group, equities analysts expect that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its board has initiated a stock repurchase program on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MTB. GAMMA Investing LLC boosted its stake in M&T Bank by 3.9% during the first quarter. GAMMA Investing LLC now owns 3,948 shares of the financial services provider’s stock valued at $706,000 after buying an additional 148 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of M&T Bank by 3.8% during the first quarter. Farther Finance Advisors LLC now owns 2,726 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 99 shares in the last quarter. Courier Capital LLC raised its stake in M&T Bank by 5.0% in the first quarter. Courier Capital LLC now owns 33,704 shares of the financial services provider’s stock valued at $6,025,000 after purchasing an additional 1,620 shares in the last quarter. Park Avenue Securities LLC lifted its position in M&T Bank by 74.3% during the first quarter. Park Avenue Securities LLC now owns 11,409 shares of the financial services provider’s stock valued at $2,039,000 after purchasing an additional 4,862 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in M&T Bank by 17.6% in the 1st quarter. UMB Bank n.a. now owns 688 shares of the financial services provider’s stock worth $123,000 after buying an additional 103 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.