M&T Bank (NYSE:MTB) Price Target Lowered to $185.00 at Wells Fargo & Company

M&T Bank (NYSE:MTB) had its price objective decreased by research analysts at Wells Fargo & Company from $205.00 to $185.00 in a report released on Friday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 4.49% from the stock’s current price.

A number of other equities research analysts have also recently commented on MTB. Compass Point raised their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. DA Davidson increased their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Barclays lifted their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Truist Financial restated a “buy” rating and issued a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $218.79.

M&T Bank Stock Performance

NYSE:MTB traded down $2.62 during trading hours on Friday, hitting $177.05. 38,663 shares of the company were exchanged, compared to its average volume of 1,044,501. The company’s 50 day moving average price is $189.87 and its 200-day moving average price is $192.40. The stock has a market capitalization of $29.09 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.38 and a beta of 0.74. M&T Bank has a 52-week low of $133.03 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business posted $2.74 EPS. As a group, research analysts forecast that M&T Bank will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has authorized a stock buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Trading of M&T Bank

A number of institutional investors have recently modified their holdings of MTB. Hennion & Walsh Asset Management Inc. increased its holdings in M&T Bank by 34.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 2,018 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,295 shares in the last quarter. US Bancorp DE raised its holdings in M&T Bank by 24.3% during the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider’s stock worth $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC acquired a new position in shares of M&T Bank during the 4th quarter worth $290,000. Finally, Valeo Financial Advisors LLC acquired a new position in M&T Bank during the fourth quarter worth about $297,000. 84.68% of the stock is currently owned by hedge funds and other 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.