M&T Bank (NYSE:MTB) Stock Rating Reaffirmed by Royal Bank of Canada

M&T Bank (NYSE:MTB)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They currently have a $160.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 15.07% from the company’s previous close.

MTB has been the subject of several other reports. Morgan Stanley upped their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Jefferies Financial Group decreased their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Wedbush restated an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Barclays upped their price objective on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Piper Sandler reduced their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $157.98.

M&T Bank Price Performance

MTB stock opened at $139.04 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a 1 year low of $108.53 and a 1 year high of $148.23. The company has a 50 day simple moving average of $139.61 and a 200 day simple moving average of $132.77. The stock has a market cap of $23.17 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.30 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) 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 business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company posted $4.09 earnings per share. Research analysts anticipate that M&T Bank will post 13.89 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock valued at $5,114,624 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Fiduciary Alliance LLC bought a new position in shares of M&T Bank in the first quarter valued at $3,158,000. Cornerstone Wealth Group LLC purchased a new position in M&T Bank during the first quarter worth about $3,812,000. Grimes & Company Inc. boosted its holdings in M&T Bank by 16.9% during the first quarter. Grimes & Company Inc. now owns 2,274 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 328 shares during the last quarter. Pasadena Private Wealth LLC purchased a new position in M&T Bank during the first quarter worth about $206,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in M&T Bank by 5.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the financial services provider’s stock worth $2,538,000 after purchasing an additional 967 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Company Profile

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.