M&T Bank (NYSE:MTB) Price Target Increased to $180.00 by Analysts at JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) had its target price increased by JPMorgan Chase & Co. from $170.00 to $180.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 31.00% from the company’s previous close.

A number of other research analysts also recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a report on Wednesday, March 6th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday. 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 report on Friday, January 19th. Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Morgan Stanley raised their target price on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $157.98.

M&T Bank Stock Performance

Shares of NYSE:MTB traded down $3.54 during midday trading on Tuesday, hitting $137.40. The company had a trading volume of 136,304 shares, compared to its average volume of 1,201,512. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $22.89 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 1.24 and a beta of 0.80. M&T Bank has a 12-month low of $108.53 and a 12-month high of $148.23. The company has a fifty day moving average of $139.33 and a two-hundred day moving average of $132.65.

M&T Bank (NYSE:MTB) last issued 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 return on equity of 11.59% and a net margin of 21.49%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company posted $4.09 EPS. On average, equities research analysts expect that M&T Bank will post 13.89 EPS for the current fiscal year.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the sale, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,481 shares of company stock valued at $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently bought and sold shares of MTB. Virtu Financial LLC boosted its position in M&T Bank by 17,405.3% during the first quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after acquiring an additional 5,243,349 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in M&T Bank by 113.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider’s stock valued at $42,949,000 after purchasing an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC boosted its holdings in M&T Bank by 217.0% in the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock valued at $66,759,000 after purchasing an additional 2,286,251 shares during the last quarter. Norges Bank acquired a new position in M&T Bank in the 4th quarter valued at about $232,322,000. Finally, Goldman Sachs Group Inc. boosted its holdings in M&T Bank by 76.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock valued at $71,171,000 after purchasing an additional 1,538,436 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.