M&T Bank (NYSE:MTB) had its price target raised by Barclays from $175.00 to $205.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays’ target price would indicate a potential upside of 19.89% from the company’s previous close.
Several other research analysts have also recently issued reports on MTB. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $165.00 price objective (down from $171.00) on shares of M&T Bank in a research report on Saturday, September 16th. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research report on Tuesday, September 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $167.00 price objective on shares of M&T Bank in a research report on Friday, September 22nd. Nomura upped their price objective on M&T Bank from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Finally, Instinet reaffirmed a “neutral” rating and set a $145.00 price objective (up from $144.00) on shares of M&T Bank in a research report on Saturday, September 30th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $168.18.
M&T Bank (MTB) traded down $1.30 on Tuesday, reaching $170.99. The company had a trading volume of 414,000 shares, compared to its average volume of 735,839. M&T Bank has a 1 year low of $141.12 and a 1 year high of $176.62. The firm has a market cap of $25,736.63, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.08 and a beta of 0.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05.
In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the sale, the director now directly owns 52,049 shares of the company’s stock, valued at approximately $8,910,268.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary N. Geisel sold 1,046 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $170.49, for a total value of $178,332.54. Following the sale, the director now directly 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 three months, insiders bought 259,000 shares of company stock valued at $20,690 and sold 32,128 shares valued at $5,474,208. 3.18% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Sun Life Financial INC raised its stake in M&T Bank by 8,576.9% during the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 1,115 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in M&T Bank during the 3rd quarter valued at approximately $206,000. Columbia Asset Management purchased a new stake in M&T Bank during the 3rd quarter valued at approximately $212,000. Virtu Financial LLC purchased a new stake in M&T Bank during the 3rd quarter valued at approximately $213,000. Finally, Almanack Investment Partners LLC. purchased a new stake in M&T Bank during the 2nd quarter valued at approximately $218,000. 77.71% of the stock is owned by hedge funds and other institutional investors.
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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.
