Cantor Fitzgerald Increases M&T Bank (NYSE:MTB) Price Target to $255.00

M&T Bank (NYSE:MTB) had its target price hoisted by equities researchers at Cantor Fitzgerald from $238.00 to $255.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 16.26% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. UBS Group raised their price target on shares of M&T Bank from $217.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on M&T Bank from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. Finally, Jefferies Financial Group raised their target price on M&T Bank from $250.00 to $255.00 and gave the company a “buy” rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $232.34.

M&T Bank Stock Performance

MTB stock opened at $219.34 on Tuesday. The firm has a market cap of $32.68 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.96 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $218.92 and a 200-day moving average price of $202.07. M&T Bank has a 1-year low of $150.75 and a 1-year high of $239.00.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the company earned $3.77 EPS. As a group, equities research analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

Insider Buying and Selling at M&T Bank

In related news, EVP Michael A. Wisler sold 8,237 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the transaction, the executive vice president directly owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. This trade represents a 63.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Barnes sold 21,193 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $235.85, for a total value of $4,998,369.05. Following the completion of the transaction, the director directly owned 15,142 shares of the company’s stock, valued at $3,571,240.70. The trade was a 58.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,092 shares of company stock worth $11,182,250 over the last ninety days. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC grew its stake in M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after buying an additional 155 shares in the last quarter. Bank of Jackson Hole Trust lifted its holdings in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 120 shares during the last quarter. Triumph Capital Management purchased a new position in M&T Bank in the third quarter worth $32,000. Elyxium Wealth LLC purchased a new position in M&T Bank in the fourth quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in M&T Bank in the second quarter valued at $36,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.