M&T Bank (NYSE:MTB) Price Target Lowered to $231.50 at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $244.50 to $231.50 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 9.93% from the stock’s current price.

MTB has been the subject of several other research reports. Wall Street Zen lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Robert W. Baird boosted their target price on M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Truist Financial set a $230.00 target price on M&T Bank in a research report on Tuesday, January 20th. Citigroup raised their price target on M&T Bank from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, January 2nd. Finally, Piper Sandler upped their price objective on shares of M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $231.03.

M&T Bank Price Performance

MTB opened at $210.58 on Tuesday. The firm has a market capitalization of $31.38 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50-day moving average is $216.18 and its two-hundred day moving average is $203.05. M&T Bank has a 1 year low of $150.75 and a 1 year high of $239.00.

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

M&T Bank announced that its Board of Directors has approved a share buyback plan on Tuesday, March 31st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 909 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the sale, the director owned 5,976 shares in the company, valued at $1,358,763.12. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Barnes sold 21,193 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the transaction, the director owned 15,142 shares of the company’s stock, valued at $3,571,240.70. This represents a 58.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,092 shares of company stock worth $11,182,250 in the last 90 days. Corporate insiders own 0.44% of the company’s stock.

Institutional Trading of M&T Bank

A number of hedge funds have recently modified their holdings of MTB. Bank of Jackson Hole Trust grew its holdings in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 120 shares during the period. Triumph Capital Management purchased a new stake in M&T Bank in the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth approximately $33,000. Ameriflex Group Inc. increased its holdings in shares of M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of M&T Bank by 61.8% during the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

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.