Truist Financial Lowers M&T Bank (NYSE:MTB) Price Target to $225.00

M&T Bank (NYSE:MTB) had its price objective decreased by analysts at Truist Financial from $236.00 to $225.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 43.19% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. DA Davidson boosted their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Barclays increased 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. JPMorgan Chase & Co. cut their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Evercore ISI reduced their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $215.97.

M&T Bank Price Performance

MTB opened at $157.13 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The stock has a market capitalization of $25.82 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company’s 50 day simple moving average is $186.82 and its 200-day simple moving average is $192.67. M&T Bank has a one year low of $133.03 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $2.74 EPS. Sell-side analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MTB. Versant Capital Management Inc grew its stake in shares of M&T Bank by 94.7% in the first quarter. Versant Capital Management Inc now owns 1,067 shares of the financial services provider’s stock valued at $191,000 after buying an additional 519 shares in the last quarter. Marcum Wealth LLC grew its position in shares of M&T Bank by 4.9% in the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 57 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of M&T Bank by 4.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 4,585 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 185 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of M&T Bank by 100.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,686 shares of the financial services provider’s stock valued at $6,145,000 after purchasing an additional 16,380 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in M&T Bank in the 4th quarter valued at about $43,101,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.