JPMorgan Chase & Co. Forecasts Strong Price Appreciation for M&T Bank (NYSE:MTB) Stock

M&T Bank (NYSE:MTB) had its target price lifted by research analysts at JPMorgan Chase & Co. from $217.00 to $244.50 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.56% from the company’s current price.

MTB has been the topic of a number of other research reports. Citigroup boosted their target price on shares of M&T Bank from $215.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, January 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of M&T Bank in a report on Wednesday, January 7th. Wolfe Research downgraded M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their target price on M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $228.50.

M&T Bank Stock Down 0.1%

Shares of NYSE:MTB opened at $236.09 on Monday. M&T Bank has a 1 year low of $150.75 and a 1 year high of $238.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.90 and a quick ratio of 0.97. The business’s 50-day moving average is $211.50 and its 200-day moving average is $198.09. The company has a market capitalization of $36.28 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 1.04 and a beta of 0.60.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the firm posted $3.77 earnings per share. Equities research analysts predict that M&T Bank will post 16.57 earnings per share for the current year.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 909 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the sale, the director directly owned 5,976 shares of the company’s stock, valued at approximately $1,358,763.12. The trade was a 13.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the firm’s 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 completion of the transaction, the director owned 17,070 shares in the company, valued at $3,244,324.20. This represents a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,912 shares of company stock worth $6,489,862. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds have recently bought and sold shares of MTB. Golden State Wealth Management LLC raised its holdings in shares of M&T Bank by 2,214.3% in the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the last quarter. Bank of Jackson Hole Trust grew its position in M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. Triumph Capital Management purchased a new stake in M&T Bank in the 3rd quarter valued at about $32,000. Elyxium Wealth LLC purchased a new stake in M&T Bank in the 4th quarter valued at about $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of M&T Bank during the 2nd quarter worth approximately $36,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

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.