Robert W. Baird Reiterates Neutral Rating for M&T Bank (NYSE:MTB)

M&T Bank (NYSE:MTB)‘s stock had its “neutral” rating reiterated by investment analysts at Robert W. Baird in a research note issued on Monday,Benzinga reports. They presently have a $240.00 price objective on the financial services provider’s stock. Robert W. Baird’s target price indicates a potential upside of 0.48% from the company’s previous close.

Several other equities analysts have also weighed in on MTB. The Goldman Sachs Group increased their price objective on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 6th. DA Davidson increased their price target on M&T Bank from $233.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Cantor Fitzgerald decreased their price objective on M&T Bank from $255.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Jefferies Financial Group upped their price objective on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Wells Fargo & Company lifted their target price on shares of M&T Bank from $205.00 to $215.00 and gave the stock an “underweight” rating in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $236.53.

M&T Bank Trading Down 0.0%

NYSE MTB opened at $238.85 on Monday. The business’s fifty day moving average is $220.63 and its 200-day moving average is $216.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $34.98 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 1.17 and a beta of 0.57. M&T Bank has a one year low of $174.76 and a one year high of $243.57.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm earned $3.32 EPS. Equities research analysts predict that M&T Bank will post 18.8 EPS for the current year.

M&T Bank declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 31st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 3,105 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the transaction, the executive vice president owned 6,753 shares of the company’s stock, valued at approximately $1,462,024.50. This represents a 31.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On M&T Bank

A number of institutional investors have recently added to or reduced their stakes in MTB. Canoe Financial LP raised its holdings in shares of M&T Bank by 50.5% in the 4th quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock valued at $131,515,000 after acquiring an additional 219,065 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new position in shares of M&T Bank during the fourth quarter worth about $42,817,000. Danske Bank A S purchased a new position in shares of M&T Bank during the third quarter worth about $29,612,000. Russell Investments Group Ltd. grew its holdings in shares of M&T Bank by 94.9% during the third quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock worth $57,879,000 after purchasing an additional 142,593 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich increased its position in shares of M&T Bank by 37.1% in the fourth quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after purchasing an additional 95,025 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.