M&T Bank (NYSE:MTB) Stock Rating Upgraded by JPMorgan Chase & Co.

M&T Bank (NYSE:MTB) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $215.00 price objective on the financial services provider’s stock, up from their previous price objective of $183.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 27.25% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group lifted their target price on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Citigroup lifted their target price on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Finally, Bank of America lifted their price target on M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $175.85.

M&T Bank Stock Down 1.4 %

Shares of MTB stock opened at $168.96 on Tuesday. M&T Bank has a 1 year low of $108.53 and a 1 year high of $176.44. The stock has a market cap of $28.19 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 3.45 and a beta of 0.77. The business’s fifty day moving average is $162.54 and its 200-day moving average is $150.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the previous year, the firm posted $5.12 EPS. Equities analysts expect that M&T Bank will post 14.24 earnings per share for the current fiscal year.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares of the company’s stock, valued at $502,184.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,699 shares of company stock valued at $3,395,049. Insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently made changes to their positions in the stock. General Partner Inc. acquired a new stake in shares of M&T Bank in the first quarter worth about $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank in the first quarter worth about $30,000. Principal Securities Inc. acquired a new stake in shares of M&T Bank in the fourth quarter worth about $34,000. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank in the second quarter worth about $35,000. Finally, Mark Sheptoff Financial Planning LLC increased its stake in shares of M&T Bank by 677.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 359 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.