M&T Bank (NYSE:MTB) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

M&T Bank (NYSE:MTBGet Free Report) had its price objective increased by stock analysts at Royal Bank Of Canada from $210.00 to $220.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 3.49% from the stock’s previous close.

MTB has been the subject of a number of other reports. Cowen reiterated a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. UBS Group boosted their price objective on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Finally, Jefferies Financial Group lifted their target price on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $223.55.

Check Out Our Latest Stock Report on M&T Bank

M&T Bank Trading Up 0.0%

NYSE MTB opened at $212.59 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.49. M&T Bank has a 52 week low of $150.75 and a 52 week high of $215.71. The business has a 50 day moving average price of $199.27 and a 200-day moving average price of $195.14. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.94 and a beta of 0.59.

M&T Bank (NYSE:MTBGet Free Report) last issued its earnings results 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. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.During the same period last year, the business earned $3.77 EPS. As a group, equities analysts expect that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the sale, the director owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. The trade was a 26.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $191.70, for a total value of $1,006,425.00. Following the transaction, the executive vice president directly owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. This trade represents a 48.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently added to or reduced their stakes in the business. Canoe Financial LP lifted its holdings in M&T Bank by 46.8% during the 3rd quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock worth $85,704,000 after purchasing an additional 138,173 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of M&T Bank by 27.3% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock valued at $1,574,000 after buying an additional 1,741 shares during the period. Ethic Inc. lifted its holdings in shares of M&T Bank by 20.8% in the second quarter. Ethic Inc. now owns 25,741 shares of the financial services provider’s stock worth $4,988,000 after buying an additional 4,432 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of M&T Bank by 3.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock valued at $89,947,000 after acquiring an additional 13,749 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of M&T Bank by 6.2% in the second quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock valued at $113,375,000 after acquiring an additional 33,920 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank News Summary

Here are the key news stories impacting M&T Bank this week:

M&T Bank Company Profile

(Get Free Report)

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.

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Analyst Recommendations for M&T Bank (NYSE:MTB)

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