M&T Bank (NYSE:MTB) Given New $215.00 Price Target at Morgan Stanley

M&T Bank (NYSE:MTB) had its target price raised by analysts at Morgan Stanley from $206.00 to $215.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 16.38% from the stock’s current price.

MTB has been the topic of several other research reports. DA Davidson decreased their price objective on M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Truist Financial decreased their price objective on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Cowen assumed coverage on M&T Bank in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank has an average rating of “Moderate Buy” and an average price target of $210.63.

M&T Bank Trading Up 1.7%

NYSE MTB opened at $184.74 on Friday. The stock’s 50-day simple moving average is $176.69 and its two-hundred day simple moving average is $184.10. M&T Bank has a twelve month low of $145.82 and a twelve month high of $225.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.34 and a beta of 0.62.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business earned $3.09 EPS. Research analysts forecast that M&T Bank will post 16.57 EPS for the current fiscal year.

Insider Buying and Selling

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the sale, the director now directly owns 23,070 shares of the company’s stock, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by insiders.

Institutional Trading of M&T Bank

Several large investors have recently bought and sold shares of MTB. Principal Securities Inc. boosted its position in M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 132 shares in the last quarter. Sanctuary Advisors LLC boosted its position in M&T Bank by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock valued at $3,195,000 after acquiring an additional 52 shares in the last quarter. D.A. Davidson & CO. bought a new stake in M&T Bank during the 4th quarter valued at approximately $663,000. Venturi Wealth Management LLC boosted its position in M&T Bank by 26.8% during the 4th quarter. Venturi Wealth Management LLC now owns 619 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 131 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in M&T Bank by 9.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,736 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 156 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.