Robert W. Baird Lowers M&T Bank (NYSE:MTB) Price Target to $200.00

M&T Bank (NYSE:MTB) had its target price cut by analysts at Robert W. Baird from $220.00 to $200.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 25.91% from the company’s current price.

A number of other brokerages also recently commented on MTB. Barclays lifted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Truist Financial decreased their target price on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. JPMorgan Chase & Co. lowered their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. DA Davidson boosted their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average target price of $208.14.

M&T Bank Stock Performance

MTB opened at $158.84 on Tuesday. M&T Bank has a 1-year low of $137.76 and a 1-year high of $225.70. The stock has a market cap of $26.10 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.38 and a beta of 0.58. The stock’s 50 day simple moving average is $178.78 and its 200 day simple moving average is $191.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business earned $3.09 earnings per share. As a group, equities analysts anticipate that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank announced that its Board of Directors has authorized a share buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Institutional Trading of M&T Bank

A number of institutional investors and hedge funds have recently made changes to their positions in MTB. MML Investors Services LLC increased its position in M&T Bank by 13.4% in the third quarter. MML Investors Services LLC now owns 6,852 shares of the financial services provider’s stock worth $1,220,000 after buying an additional 809 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in M&T Bank during the 3rd quarter valued at about $332,000. Barclays PLC grew its holdings in M&T Bank by 11.9% in the 3rd quarter. Barclays PLC now owns 578,266 shares of the financial services provider’s stock worth $102,999,000 after buying an additional 61,375 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of M&T Bank by 14.7% in the third quarter. Sanctuary Advisors LLC now owns 15,767 shares of the financial services provider’s stock worth $2,808,000 after purchasing an additional 2,018 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in M&T Bank by 80.6% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 13,901 shares of the financial services provider’s stock valued at $2,476,000 after buying an additional 6,205 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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 the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.