Citigroup Issues Positive Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB) had its price target lifted by stock analysts at Citigroup from $200.00 to $212.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Citigroup’s price objective points to a potential upside of 4.65% from the company’s current price.

Several other research analysts also recently issued reports on the stock. DA Davidson dropped their target price on shares of M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 15th. Cowen started coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They issued a “buy” rating on the stock. Robert W. Baird lowered their price objective on shares of M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $200.00 price objective on shares of M&T Bank in a research report on Monday, May 19th. One 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. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.48.

M&T Bank Price Performance

Shares of MTB opened at $202.58 on Wednesday. The stock has a market cap of $32.52 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank has a fifty-two week low of $145.82 and a fifty-two week high of $225.70. The firm’s 50-day simple moving average is $182.73 and its two-hundred day simple moving average is $183.61.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data 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). The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same quarter last year, the company posted $3.09 EPS. Analysts anticipate that M&T Bank will post 16.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the sale, the director owned 23,070 shares in the company, valued at $4,233,806.40. This trade represents a 22.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC bought a new position in shares of M&T Bank during the 1st quarter worth approximately $25,000. WPG Advisers LLC acquired a new position in M&T Bank during the 1st quarter valued at approximately $25,000. Wood Tarver Financial Group LLC acquired a new position in M&T Bank during the 4th quarter valued at approximately $29,000. Banque Transatlantique SA acquired a new position in M&T Bank during the 4th quarter valued at approximately $38,000. Finally, Grove Bank & Trust increased its stake in M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 114 shares in the last quarter. Institutional investors 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.