M&T Bank (NYSE:MTB) Given New $235.00 Price Target at Barclays

M&T Bank (NYSE:MTB) had its price objective raised by Barclays from $228.00 to $235.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 20.90% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Compass Point lifted their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Bank of America increased their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, DA Davidson lifted their price target on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $215.91.

M&T Bank Stock Performance

Shares of NYSE MTB traded up $2.83 during mid-day trading on Monday, hitting $194.37. The stock had a trading volume of 398,707 shares, compared to its average volume of 889,042. The firm has a market cap of $32.25 billion, a PE ratio of 14.39, a PEG ratio of 2.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average of $203.61 and a two-hundred day moving average of $180.81. M&T Bank has a twelve month low of $128.31 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. Research analysts predict that M&T Bank will post 14.63 EPS for the current fiscal year.

Insider Activity at M&T Bank

In other news, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This represents a 20.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is owned by company insiders.

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTB. FMR LLC raised its holdings in shares of M&T Bank by 13.9% in the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares during the period. State Street Corp grew its holdings in shares of M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after purchasing an additional 527,854 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after buying an additional 190,837 shares in the last quarter. Geode Capital Management LLC increased its position in shares of M&T Bank by 1.6% during the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock worth $768,824,000 after acquiring an additional 66,337 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after acquiring an additional 81,004 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 operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.