In a report issued on April 20, Gerard Cassidy from RBC Capital maintained a Buy rating on M&T Bank (MTB), with a price target of $148.00. The company’s shares closed last Wednesday at $105.57.
According to TipRanks.com, Cassidy is a top 100 analyst with an average return of 20.6% and a 69.8% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Fifth Third Bancorp, and Goldman Sachs Group.
Currently, the analyst consensus on M&T Bank is a Moderate Buy with an average price target of $128.91, representing a 20.5% upside. In a report issued on April 8, Barclays also maintained a Buy rating on the stock with a $159.00 price target.
See today’s analyst top recommended stocks >>
Based on M&T Bank’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.51 billion and net profit of $269 million. In comparison, last year the company earned revenue of $1.55 billion and had a net profit of $483 million.
Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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 following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking. The Business Banking segment provides services to small businesses and professionals through the company’s branch network, business banking centres and other delivery channels such as telephone banking, Internet banking and automated teller machines. The Commercial Banking segment offers credit products and banking services for middle-market and large commercial customers. The Commercial Real Estate segment includes credit and deposit services to its customers. The Discretionary Portfolio segment consists of investment and trading securities, residential mortgage loans and other assets, short-term and long-term borrowed funds, brokered certificates of deposit and interest rate swap agreements related thereto, and Cayman Islands branch deposits. The Residential Mortgage Banking segment comprises of residential mortgage loans and sells substantially all of those loans in the secondary market to investors. The Retail Banking segment offers services to consumers through several delivery channels which include branch offices, automated teller machines, telephone banking, and Internet banking. The company was founded on August 30, 1856 and is headquartered in Buffalo, NY.
