Royal Bank of Canada Issues Pessimistic Forecast for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB - Get Free Report) had its price target decreased by analysts at Royal Bank of Canada from $208.00 to $200.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's price target points to a potential upside of 24.93% from the stock's previous close.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley cut their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. DA Davidson lowered their price objective on M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Citigroup reduced their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Robert W. Baird reduced their price objective on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $208.14.

M&T Bank Trading Up 0.8 %

MTB stock traded up $1.19 during midday trading on Tuesday, reaching $160.09. The stock had a trading volume of 1,105,142 shares, compared to its average volume of 1,111,223. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank has a twelve month low of $139.78 and a twelve month high of $225.70. The firm has a market cap of $26.30 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.38 and a beta of 0.58. The business has a fifty day simple moving average of $177.25 and a two-hundred day simple moving average of $191.23.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the firm posted $3.09 EPS. As a group, research analysts expect that M&T Bank will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wood Tarver Financial Group LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $29,000. Banque Transatlantique SA bought a new position in M&T Bank during the fourth quarter worth $38,000. Y.D. More Investments Ltd grew its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares during the period. Grove Bank & Trust increased its stake in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 114 shares in the last quarter. Finally, Human Investing LLC acquired a new position in shares of M&T Bank during the fourth quarter valued at about $44,000. 84.68% of the stock is 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.