RBC Capital Remains a Buy on M&T Bank (MTB)
RBC Capital analyst Gerard Cassidy maintained a Buy rating on M&T Bank yesterday and set a price target of $225.00. The company’s shares closed yesterday at $210.42.
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Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase, Citigroup, and Fifth Third Bancorp. According to TipRanks, Cassidy has an average return of 13.3% and a 66.47% success rate on recommended stocks.
Currently, the analyst consensus on M&T Bank is a Hold with an average price target of $230.27.
Based on M&T Bank’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.23 billion and a net profit of $664 million. In comparison, last year the company earned a revenue of $3.17 billion and had a net profit of $584 million
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTB in relation to earlier this year. Earlier this month, Christopher Kay, the SEVP of MTB sold 3,105.00 shares for a total of $672,232.50.
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