Deutsche Bank Upgrades M&T Bank Co. to “Buy” (MTB)
M&T Bank Co. (NYSE:MTB) was upgraded by equities researchers at Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $117.00 price target on the stock. Deutsche Bank’s price target suggests a potential downside of 4.87% from the company’s current price.
MTB has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of M&T Bank Co. to $128.00 in a research note on Tuesday, April 15th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of M&T Bank Co. from an “underperform” rating to a “neutral” rating in a research note on Thursday, April 10th. They now have a $127.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of M&T Bank Co. from $114.00 to $118.00 in a research note on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $124.50.
Shares of M&T Bank Co. (NYSE:MTB) traded down 0.13% on Thursday, hitting $122.83. 807,272 shares of the company’s stock traded hands. M&T Bank Co. has a one year low of $99.04 and a one year high of $123.06. The stock’s 50-day moving average is $120.0 and its 200-day moving average is $115.3. The company has a market cap of $16.144 billion and a P/E ratio of 15.72.
M&T Bank Co. (NYSE:MTB) last announced its earnings results on Monday, April 14th. The company reported $1.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.62 by $0.04. During the same quarter in the prior year, the company posted $2.06 earnings per share. Analysts expect that M&T Bank Co. will post $7.74 EPS for the current fiscal year.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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