Robert W. Baird Has Lowered Expectations for M&T Bank (NYSE:MTB) Stock Price

M&T Bank (NYSE:MTB - Get Free Report) had its price objective reduced by research analysts at Robert W. Baird from $220.00 to $200.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Robert W. Baird's price objective would suggest a potential upside of 24.93% from the company's current price.

Several other brokerages have also issued reports on MTB. JPMorgan Chase & Co. dropped their target price 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. Truist Financial reduced their target price on M&T Bank from $236.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Citigroup lowered their target price on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Evercore ISI dropped their price objective on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, DA Davidson lifted their target price on M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $208.14.

M&T Bank Trading Up 0.8 %

Shares of M&T Bank stock traded up $1.19 on Tuesday, reaching $160.09. The company had a trading volume of 1,105,142 shares, compared to its average volume of 1,111,223. The firm's 50-day moving average price is $177.25 and its two-hundred day moving average price is $191.23. M&T Bank has a 1 year low of $139.78 and a 1 year high of $225.70. The firm has a market cap of $26.30 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.38 and a beta of 0.58. 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 - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the company posted $3.09 EPS. As a group, research analysts predict that M&T Bank will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its Board of Directors has initiated a share buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board 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 business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MTB. FMR LLC raised its stake in M&T Bank by 14.3% during the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after buying an additional 1,761,014 shares in the last quarter. Norges Bank acquired a new position in M&T Bank in the fourth quarter worth $317,690,000. GAMMA Investing LLC increased its stake in M&T Bank by 18,471.2% during the first quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock valued at $126,145,000 after purchasing an additional 701,905 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of M&T Bank by 22.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock worth $294,662,000 after purchasing an additional 286,049 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of M&T Bank in the 4th quarter valued at about $48,939,000. Institutional investors and hedge funds own 84.68% of the company's stock.

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.