TD Cowen Boosts M&T Bank (NYSE:MTB) Price Target to $245.00

M&T Bank (NYSE:MTB) had its price objective increased by stock analysts at TD Cowen from $235.00 to $245.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential upside of 34.85% from the stock’s current price.

Several other research firms also recently weighed in on MTB. Truist Financial lowered their price target on shares of M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Cantor Fitzgerald started coverage on shares of M&T Bank in a research note on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price objective for the company. Citigroup upped their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upped their price objective on shares of M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group upped their price objective on shares of M&T Bank from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Moderate Buy” and an average target price of $217.76.

M&T Bank Stock Performance

M&T Bank stock opened at $181.69 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $28.39 billion, a PE ratio of 11.19, a P/E/G ratio of 0.90 and a beta of 0.62. The firm has a fifty day simple moving average of $194.56 and a two-hundred day simple moving average of $186.60. M&T Bank has a twelve month low of $150.75 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The business had revenue of $1.54 billion during the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. Research analysts expect that M&T Bank will post 16.57 EPS for the current year.

Insider Activity

In related news, Director John P. Barnes sold 15,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the transaction, the director owned 17,866 shares in the company, valued at $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently modified their holdings of MTB. Wealth Preservation Advisors LLC purchased a new position in shares of M&T Bank during the first quarter valued at about $25,000. WPG Advisers LLC purchased a new stake in M&T Bank in the first quarter worth about $25,000. Golden State Wealth Management LLC grew its holdings in M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in M&T Bank in the second quarter worth about $36,000. Finally, Family Legacy Financial Solutions LLC purchased a new stake in M&T Bank in the second quarter worth about $46,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

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.