Robert W. Baird downgrades M&T Bank (MTB) to a Hold
M&T Bank received a Hold rating and a $240.00 price target from Robert W. Baird analyst today.
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In addition to Robert W. Baird, M&T Bank also received a Hold from Morgan Stanley’s Manan Gosalia in a report issued on June 29. However, on June 22, RBC Capital maintained a Buy rating on M&T Bank (NYSE: MTB).
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 86 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. Last month, John R. Taylor, the EVP and Controller of MTB sold 1,098.00 shares for a total of $256,086.54.
