Recent Research Analysts’ Ratings Changes for M&T Bank (MTB)

Posted by on Apr 13th, 2023

Several brokerages have updated their recommendations and price targets on shares of M&T Bank (NYSE: MTB) in the last few weeks:

  • 4/12/2023 – M&T Bank had its price target lowered by analysts at Barclays PLC from $194.00 to $153.00.
  • 4/10/2023 – M&T Bank was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating.
  • 4/8/2023 – M&T Bank was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
  • 4/6/2023 – M&T Bank had its price target lowered by analysts at JPMorgan Chase & Co. from $160.00 to $125.00.
  • 4/5/2023 – M&T Bank had its price target lowered by analysts at Morgan Stanley from $212.00 to $159.00. They now have an “overweight” rating on the stock.
  • 4/3/2023 – M&T Bank had its price target lowered by analysts at Wells Fargo & Company from $165.00 to $155.00. They now have an “equal weight” rating on the stock.
  • 3/31/2023 – M&T Bank was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
  • 3/27/2023 – M&T Bank was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $155.00 price target on the stock, down previously from $178.00.
  • 3/24/2023 – M&T Bank had its price target lowered by analysts at Royal Bank of Canada from $190.00 to $183.00. They now have an “outperform” rating on the stock.
  • 3/23/2023 – M&T Bank was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating.
  • 3/16/2023 – M&T Bank is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 2/22/2023 – M&T Bank had its price target raised by analysts at Citigroup Inc. from $160.00 to $178.00. They now have a “neutral” rating on the stock.

M&T Bank Stock Performance

Shares of MTB opened at $116.34 on Thursday. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.74 and a beta of 0.78. M&T Bank Co. has a 12 month low of $110.00 and a 12 month high of $193.42. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $138.48 and a 200 day moving average of $153.53.

M&T Bank (NYSE:MTB – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The financial services provider reported $4.57 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.10. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.37 billion. M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. During the same period in the previous year, the firm earned $3.37 EPS. As a group, sell-side analysts forecast that M&T Bank Co. will post 17.56 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 6th were given a dividend of $1.30 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Friday, March 3rd. M&T Bank’s payout ratio is presently 45.14%.

Institutional Investors Weigh In On M&T Bank

Several large investors have recently made changes to their positions in MTB. Clear Street Markets LLC acquired a new stake in M&T Bank in the fourth quarter valued at approximately $25,000. SRS Capital Advisors Inc. lifted its holdings in M&T Bank by 712.5% during the 2nd quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock worth $31,000 after buying an additional 171 shares in the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of M&T Bank by 148.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock valued at $35,000 after buying an additional 131 shares in the last quarter. CI Investments Inc. grew its position in M&T Bank by 887.5% during the 3rd quarter. CI Investments Inc. now owns 237 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 213 shares during the last quarter. Finally, Affiance Financial LLC purchased a new position in M&T Bank during the fourth quarter worth about $35,000. 84.10% of the stock is owned by institutional investors.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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