RBC Capital Sticks to Their Buy Rating for M&T Bank (MTB)
RBC Capital analyst Gerard Cassidy maintained a Buy rating on M&T Bank on June 22 and set a price target of $230.00. The company’s shares closed yesterday at $227.73.
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According to TipRanks, Cassidy is a top 100 analyst with an average return of 15.5% and a 73.36% success rate. Cassidy covers the Financial sector, focusing on stocks such as Citigroup, Fifth Third Bancorp, and JPMorgan Chase.
Currently, the analyst consensus on M&T Bank is a Hold with an average price target of $230.73.
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 87 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, John R. Taylor, the EVP and Controller of MTB sold 1,098.00 shares for a total of $256,086.54.
