M&T Bank (NYSE:MTB) Receives “Outperform” Rating from Wedbush

M&T Bank (NYSE:MTB)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $170.00 price target on the financial services provider’s stock. Wedbush’s target price would suggest a potential upside of 25.80% from the company’s current price.

MTB has been the subject of several other reports. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $155.00 to $162.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a research note on Monday, December 18th. UBS Group boosted their target price on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of M&T Bank from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $155.21.

M&T Bank Price Performance

Shares of NYSE:MTB traded down $5.63 during midday trading on Wednesday, reaching $135.13. 575,621 shares of the company’s stock were exchanged, compared to its average volume of 1,183,065. M&T Bank has a 12 month low of $108.53 and a 12 month high of $148.23. The firm has a market capitalization of $22.52 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The company’s 50 day simple moving average is $139.15 and its two-hundred day simple moving average is $132.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business earned $4.57 earnings per share. Equities research analysts expect that M&T Bank will post 13.84 earnings per share for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the transaction, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

Hedge funds have recently made changes to their positions in the stock. Czech National Bank boosted its position in M&T Bank by 0.8% during the 1st quarter. Czech National Bank now owns 29,301 shares of the financial services provider’s stock worth $4,262,000 after buying an additional 235 shares during the period. Fulton Bank N.A. boosted its position in M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after buying an additional 81 shares during the period. Alaska Permanent Fund Corp lifted its position in shares of M&T Bank by 2.3% in the 1st quarter. Alaska Permanent Fund Corp now owns 18,763 shares of the financial services provider’s stock worth $2,729,000 after purchasing an additional 417 shares during the period. GAMMA Investing LLC lifted its position in shares of M&T Bank by 25.0% in the 1st quarter. GAMMA Investing LLC now owns 1,534 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 307 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of M&T Bank by 63.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 414,253 shares of the financial services provider’s stock worth $60,249,000 after purchasing an additional 161,520 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.