RBC Capital analyst Gerard Cassidy maintained a Buy rating on M&T Bank (MTB) yesterday and set a price target of $166.00. The company’s shares closed last Tuesday at $159.38, close to its 52-week high of $165.78.
According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 31.7% and a 82.7% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Goldman Sachs Group, and Fifth Third Bancorp.
Currently, the analyst consensus on M&T Bank is a Moderate Buy with an average price target of $154.33.
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The company has a one-year high of $165.78 and a one-year low of $85.09. Currently, M&T Bank has an average volume of 872K.
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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.
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