Cantor Fitzgerald Forecasts Strong Price Appreciation for M&T Bank (NYSE:MTB) Stock

Key Points

• Cantor Fitzgerald raised its M&T Bank price target to $285 from $262 and maintained an “overweight” rating, implying approximately 13.22% upside.
• M&T Bank exceeded quarterly expectations, reporting $5.35 in EPS versus the $4.66 consensus estimate and $2.53 billion in revenue versus $2.46 billion expected.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy, 14 rate it Hold and one rates it Sell, resulting in a consensus “Hold” rating and a $253.43 target price.

M&T Bank (NYSE:MTB - Get Free Report) had its price objective raised by analysts at Cantor Fitzgerald from $262.00 to $285.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Cantor Fitzgerald's price target would indicate a potential upside of 13.22% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Jefferies Financial Group reaffirmed a "buy" rating and set a $300.00 target price on shares of M&T Bank in a research note on Wednesday, July 15th. DA Davidson boosted their price target on shares of M&T Bank from $263.00 to $266.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Barclays increased their price target on shares of M&T Bank from $236.00 to $267.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Finally, Robert W. Baird raised their price objective on shares of M&T Bank from $240.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $253.43.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $251.73 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $242.38 and a 200-day moving average price of $225.16. The company has a market cap of $36.35 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.18 and a beta of 0.57. M&T Bank has a 12 month low of $174.76 and a 12 month high of $255.95.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period last year, the firm earned $4.28 earnings per share. As a group, equities analysts anticipate that M&T Bank will post 19.42 EPS for the current year.

Institutional Investors Weigh In On M&T Bank

Several hedge funds have recently bought and sold shares of MTB. Bank of New York Mellon Corp purchased a new stake in M&T Bank in the second quarter worth about $330,978,000. Davis Asset Management L.P. purchased a new position in shares of M&T Bank during the 2nd quarter valued at about $97,584,000. Danske Bank A S bought a new position in shares of M&T Bank during the 3rd quarter valued at approximately $29,612,000. Russell Investments Group Ltd. grew its stake in shares of M&T Bank by 35.4% during the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider's stock valued at $79,954,000 after acquiring an additional 103,692 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich increased its holdings in M&T Bank by 37.1% in the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider's stock worth $71,462,000 after acquiring an additional 95,025 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

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