Robert W. Baird Issues Positive Forecast for M&T Bank (NYSE:MTB) Stock Price

Key Points

• Robert W. Baird raised its price target on M&T Bank from $240 to $250, though it kept a neutral rating. The new target implies only a small upside from the current share price.
• M&T Bank recently beat Q2 earnings expectations, reporting EPS of $5.32 and revenue of $2.53 billion, both above forecasts. Management also pointed to strong net interest margin, loan growth, and improving credit quality.
• The bank’s board authorized a $5 billion share buyback, which could cover up to 16.7% of outstanding shares. The stock has also drawn generally mixed analyst sentiment, with most ratings sitting at Hold.

M&T Bank (NYSE:MTB - Get Free Report) had its price objective increased by analysts at Robert W. Baird from $240.00 to $250.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Robert W. Baird's price objective suggests a potential upside of 0.65% from the stock's current price.

A number of other brokerages have also weighed in on MTB. Morgan Stanley raised their price target on shares of M&T Bank from $245.00 to $253.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Argus increased their price objective on M&T Bank from $230.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Wells Fargo & Company boosted their target price on M&T Bank from $205.00 to $215.00 and gave the stock an "underweight" rating in a research report on Monday, July 6th. UBS Group raised their price target on M&T Bank from $225.00 to $252.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $300.00 price objective on shares of M&T Bank in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $246.08.

M&T Bank Stock Up 2.7%

Shares of NYSE:MTB opened at $248.39 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a market cap of $36.38 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.20 and a beta of 0.57. M&T Bank has a 12 month low of $174.76 and a 12 month high of $248.74. The company's 50-day moving average price is $224.43 and its two-hundred day moving average price is $218.41.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.32 earnings per share for the quarter, topping analysts' consensus estimates of $4.66 by $0.66. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $4.28 earnings per share. As a group, research analysts forecast that M&T Bank will post 18.81 EPS for the current fiscal year.

M&T Bank announced that its board has approved a share buyback program on Tuesday, March 31st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 16.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 3,105 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the completion of the transaction, the executive vice president owned 6,753 shares in the company, valued at $1,462,024.50. This represents a 31.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.44% of the company's stock.

Hedge Funds Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its holdings in shares of M&T Bank by 233.3% in the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. Triumph Capital Management acquired a new stake in M&T Bank in the 3rd quarter valued at approximately $32,000. Elyxium Wealth LLC acquired a new stake in M&T Bank in the 4th quarter valued at approximately $33,000. Bank of Jackson Hole Trust lifted its stake in M&T Bank by 38.7% in the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. Finally, Hoese & Co LLP bought a new stake in M&T Bank in the 4th quarter valued at approximately $50,000. Institutional investors own 84.68% of the company's stock.

M&T Bank News Summary

Here are the key news stories impacting M&T Bank this week:

• Positive Sentiment: M&T Bank beat Q2 estimates, reporting EPS of $5.32 to $5.35 versus $4.66 expected, with revenue of $2.53 billion above forecasts. The strong quarter was driven by higher interest income, fee income, and trust income. Reuters article
• Positive Sentiment: Management and analysts highlighted record earnings, robust net interest margin of about 3.7%, and solid loan growth, especially in commercial and real estate lending, which supports the bank’s outlook. Seeking Alpha article
• Positive Sentiment: Credit quality improved, with credit losses falling and noninterest income climbing, helping offset rising expenses and reinforcing the view that M&T’s balance sheet remains resilient. Seeking Alpha news
• Neutral Sentiment: The company also announced quarterly preferred stock dividends, including payouts on Series H, Series J, and Series K preferred shares. This is a routine capital action and is unlikely to be a major driver of the common stock today. PR Newswire article

About M&T Bank

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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