Jefferies Financial Group Lowers M&T Bank (NYSE:MTB) Price Target to $275.00

M&T Bank (NYSE:MTB) had its target price dropped by stock analysts at Jefferies Financial Group from $300.00 to $275.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 25.26% from the company’s current price.

A number of other brokerages have also recently commented on MTB. Wells Fargo & Company upped their target price on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday, September 1st. Robert W. Baird increased their price target on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Morgan Stanley raised M&T Bank from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $253.00 to $304.00 in a research report on Tuesday, September 8th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average price target of $253.82.

M&T Bank Price Performance

MTB stock opened at $219.55 on Thursday. M&T Bank has a 52-week low of $174.76 and a 52-week high of $255.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50 day moving average price of $242.74 and a 200-day moving average price of $226.74. The firm has a market capitalization of $31.71 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.27 and a beta of 0.56.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm earned $4.28 EPS. Equities research analysts forecast that M&T Bank will post 19.45 EPS for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other news, CEO Rene F. Jones sold 19,396 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the completion of the sale, the chief executive officer directly owned 103,831 shares in the company, valued at $24,851,949.85. This represents a 15.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. This represents a 14.58% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 20,028 shares of company stock valued at $4,794,884. 0.44% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC increased its holdings in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 84 shares during the last quarter. First Bancorp Inc ME purchased a new stake in shares of M&T Bank in the 2nd quarter valued at about $25,000. FNY Investment Advisers LLC purchased a new stake in M&T Bank in the 2nd quarter valued at $51,000. NBH Bank acquired a new stake in M&T Bank during the 2nd quarter worth approximately $51,000. Finally, Root Financial Partners LLC lifted its stake in shares of M&T Bank by 23.2% in the 4th quarter. Root Financial Partners LLC now owns 382 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.