M&T Bank Co. Given Consensus Rating of “Hold” by Brokerages (NYSE:MTB)
Shares of M&T Bank Co. (NYSE:MTB) have been given a consensus recommendation of “Hold” by the twenty-two brokerages that are currently covering the stock, Stock Ratings Network.com reports. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $124.12.
MTB has been the subject of a number of recent research reports. Analysts at Keefe, Bruyette & Woods upgraded shares of M&T Bank Co. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 21st. They now have a $141.00 price target on the stock, up previously from $125.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Co. in a research note on Friday, July 18th. They now have a $128.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of M&T Bank Co. from $118.00 to $120.00 in a research note on Friday, July 18th. They now have a “market perform” rating on the stock.
M&T Bank Co. (NYSE:MTB) opened at 119.90 on Tuesday. M&T Bank Co. has a 52 week low of $109.16 and a 52 week high of $125.90. The stock’s 50-day moving average is $122.6 and its 200-day moving average is $119.6. The company has a market cap of $15.821 billion and a price-to-earnings ratio of 16.36.
M&T Bank Co. (NYSE:MTB) last released its earnings data on Thursday, July 17th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.08. During the same quarter in the previous year, the company posted $2.55 earnings per share. On average, analysts predict that M&T Bank Co. will post $7.62 earnings per share for the current fiscal year.
In other M&T Bank Co. news, Chairman Jorge G. Pereira unloaded 17,241 shares of M&T Bank Co. stock on the open market in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $119.49, for a total value of $2,060,127.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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