M&T Bank (NYSE:MTB) has been assigned a $180.00 price objective by investment analysts at Wells Fargo & Company in a report issued on Wednesday. The brokerage presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s price target indicates a potential upside of 4.33% from the company’s current price.
A number of other research firms also recently commented on MTB. BidaskClub downgraded M&T Bank from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Sanford C. Bernstein reiterated a “market perform” rating and issued a $165.00 price objective (down previously from $171.00) on shares of M&T Bank in a report on Saturday, September 16th. Nomura upped their price objective on M&T Bank from $144.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Tuesday, September 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 price objective on shares of M&T Bank in a report on Thursday, December 14th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. M&T Bank has a consensus rating of “Hold” and an average price target of $166.41.
M&T Bank (NYSE:MTB) traded down $1.37 during midday trading on Wednesday, reaching $172.53. The company had a trading volume of 592,430 shares, compared to its average volume of 745,338. The company has a market capitalization of $25,970.00, a P/E ratio of 19.80, a PEG ratio of 2.12 and a beta of 0.84. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57. M&T Bank has a fifty-two week low of $141.12 and a fifty-two week high of $176.62.
In related news, VP Michael R. Spychala sold 13,417 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $170.92, for a total transaction of $2,293,233.64. Following the completion of the transaction, the vice president now directly owns 51,622 shares in the company, valued at $8,823,232.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary N. Geisel sold 1,046 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $170.49, for a total value of $178,332.54. Following the transaction, the director now owns 17,586 shares of the company’s stock, valued at $2,998,237.14. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 534,000 shares of company stock valued at $43,440 and sold 1,712,128 shares valued at $5,604,108. 3.18% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC grew its holdings in shares of M&T Bank by 2.8% during the third quarter. Parametric Portfolio Associates LLC now owns 279,187 shares of the financial services provider’s stock worth $44,960,000 after buying an additional 7,568 shares in the last quarter. California Public Employees Retirement System boosted its position in M&T Bank by 5.6% during the third quarter. California Public Employees Retirement System now owns 418,997 shares of the financial services provider’s stock valued at $67,475,000 after purchasing an additional 22,223 shares during the last quarter. Virtu Financial LLC acquired a new position in M&T Bank during the third quarter valued at approximately $213,000. Janney Montgomery Scott LLC boosted its position in M&T Bank by 5.3% during the third quarter. Janney Montgomery Scott LLC now owns 28,206 shares of the financial services provider’s stock valued at $4,542,000 after purchasing an additional 1,428 shares during the last quarter. Finally, Janney Capital Management LLC acquired a new position in M&T Bank during the third quarter valued at approximately $231,000. Institutional investors and hedge funds own 77.71% of the company’s stock.
M&T Bank Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
