Guggenheim Lowers M&T Bank Corp. Price Target to $120.00 (MTB)
Equities researchers at Guggenheim dropped their price target on shares of M&T Bank Corp. (NYSE:MTB) from $128.50 to $120.00 in a research report issued on Monday, AnalystRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s target price would indicate a potential upside of 7.22% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Keefe, Bruyette & Woods raised their price target on shares of M&T Bank Corp. (NYSE:MTB) from $124.00 to $126.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of M&T Bank Corp. (NYSE:MTB) from $123.00 to $121.00 in a research note to investors on Tuesday, September 10th. They now have a “market perform” rating on the stock. Finally, analysts at BMO Capital Markets reiterated a “hold” rating on shares of M&T Bank Corp. (NYSE:MTB) in a research note to investors on Friday, September 6th. They now have a $123.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. M&T Bank Corp. presently has a consensus rating of “Hold” and an average target price of $121.56.
Shares of M&T Bank Corp. (NYSE:MTB) traded down 0.14% during mid-day trading on Monday, hitting $111.92. 854,444 shares of the company’s stock traded hands. M&T Bank Corp. has a 52 week low of $95.02 and a 52 week high of $119.54. The stock’s 50-day moving average is $114.4 and its 200-day moving average is $108.8. The company has a market cap of $14.554 billion and a price-to-earnings ratio of 12.64.
M&T Bank Corp. (NYSE:MTB) last announced its earnings results on Wednesday, July 17th. The company reported $2.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.11 by $0.44. During the same quarter in the prior year, the company posted $1.71 earnings per share. On average, analysts predict that M&T Bank Corp. will post $8.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, August 29th.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.