M&T Bank Co. (MTB) – Research Analysts’ Weekly Ratings Changes
A number of firms have modified their ratings and price targets on shares of M&T Bank Co. (NYSE: MTB) recently:
- M&T Bank Co. was upgraded by analysts at Credit Suisse from a “neutral” rating to an “outperform” rating. They now have a $109.00 price target on the stock, up previously from $102.00. They wrote, “Upgrading MTB to Outperform (from Neutral): We believe MTB’s current valuation and consensus estimates are still not fully reflecting the EPS/TBV benefits from the HCBK acquisition. Additionally, MTB may complete additional accretive acquisitions over the next few years. We estimate 7% upside to 2014 consensus EPS before additional deals, but expect another transaction could drive up LT EPS by an additional 3-10%. Two drivers of our higher EPS are a significant reduction in FDIC assessment expenses at HCBK and increased mortgage banking revenues. Lastly, while MTB has outperformed recently (up 4% over the past 3 months vs. super regional peers), it has underperformed vs. peers over the last year (down 13% relatively), and we forecast ~15% outperformance vs. peers over the next twelve months.”
- M&T Bank Co. had its price target raised by analysts at FBR Capital from $100.00 to $115.00. They now have a “market perform” rating on the stock.
- M&T Bank Co. had its price target raised by analysts at Compass Point from $96.00 to $99.00. They now have a “neutral” rating on the stock.
- M&T Bank Co. had its “neutral” rating reaffirmed by analysts at Macquarie. They now have a $110.00 price target on the stock.
- M&T Bank Co. had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $108.00 price target on the stock.
M&T Bank Co. opened at 104.88 on Friday. M&T Bank Co. has a 1-year low of $67.23 and a 1-year high of $105.33. The company has a market cap of $13.287 billion and a price-to-earnings ratio of 18.84.
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2011, M&T had two wholly owned bank subsidiaries: M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.