M&T Bank Corp. Stock Rating Reaffirmed by Zacks (MTB)
M&T Bank Corp. (NYSE:MTB)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Monday, American Banking News reports. They currently have a $118.00 target price on the stock. Zacks‘ target price would suggest a potential upside of 5.37% from the stock’s previous close.
Zacks‘ analyst wrote, “M&T Bank’s fourth-quarter 2013 operating earnings of $1.79 per share lagged the Zacks Consensus Estimate of $1.91. Moreover, this compared unfavorably with $2.23 per share reported in the prior-year quarter. Improvement in credit metrics and strong capital ratios were the positives for the quarter. However, higher expenses were a headwind. After reviewing the results, we are maintaining our Neutral recommendation on the shares.”
MTB has been the subject of a number of other recent research reports. Analysts at Janney Montgomery Scott initiated coverage on shares of M&T Bank Corp. in a research note to investors on Tuesday, January 14th. They set a “neutral” rating on the stock. Separately, analysts at Barclays upgraded shares of M&T Bank Corp. from an “equal weight” rating to an “overweight” rating in a research note to investors on Monday, January 6th. They now have a $135.00 price target on the stock, up previously from $125.00. Finally, analysts at BMO Capital Markets cut their price target on shares of M&T Bank Corp. to $115.00 in a research note to investors on Wednesday, December 18th. They now have a “market perform” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $122.67.
M&T Bank Corp. (NYSE:MTB) traded down 2.34% during mid-day trading on Monday, hitting $111.99. 2,671,947 shares of the company’s stock traded hands. M&T Bank Corp. has a 52 week low of $95.68 and a 52 week high of $119.54. The stock’s 50-day moving average is $114.7 and its 200-day moving average is $114.7. The company has a market cap of $14.622 billion and a price-to-earnings ratio of 13.68.
M&T Bank Corp. (NYSE:MTB) last issued its quarterly earnings data on Friday, January 17th. The company reported $1.74 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.94 by $0.20. During the same quarter last year, the company posted $2.16 earnings per share. On average, analysts predict that M&T Bank Corp. will post $8.03 earnings per share for the current fiscal year.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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