M&T Bank (NYSE:MTB) Rating Reiterated by Keefe, Bruyette & Woods

M&T Bank (NYSE:MTB)‘s stock had its “market perform” rating reissued by analysts at Keefe, Bruyette & Woods in a report issued on Thursday, Benzinga reports. They currently have a $170.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 15.16% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. DA Davidson reaffirmed a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Evercore ISI increased their price target on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday. Wells Fargo & Company increased their price target on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Bank of America increased their price target on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $161.51.

M&T Bank Stock Performance

Shares of MTB traded up $0.30 during trading hours on Thursday, reaching $147.62. 97,628 shares of the company’s stock traded hands, compared to its average volume of 1,034,464. The firm has a market capitalization of $24.63 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 2.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a twelve month low of $108.53 and a twelve month high of $156.65. The business’s fifty day simple moving average is $147.83 and its two-hundred day simple moving average is $141.72.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business earned $4.09 EPS. Analysts predict that M&T Bank will post 13.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the sale, the director now directly owns 35,480 shares of the company’s stock, valued at $5,481,660. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,553 shares of company stock worth $14,724,147. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MTB. Norges Bank bought a new position in shares of M&T Bank in the 4th quarter valued at approximately $232,322,000. Smead Capital Management Inc. bought a new position in shares of M&T Bank in the 4th quarter valued at approximately $59,418,000. Los Angeles Capital Management LLC bought a new position in shares of M&T Bank in the 4th quarter valued at approximately $34,645,000. London Co. of Virginia grew its holdings in M&T Bank by 23.2% in the 3rd quarter. London Co. of Virginia now owns 1,118,296 shares of the financial services provider’s stock valued at $141,409,000 after buying an additional 210,821 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in M&T Bank by 1,155.9% in the 4th quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock valued at $28,154,000 after buying an additional 189,038 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.