M&T Bank Stock: Analyst Ratings and Performance Trends

M&T Bank Corporation (MTB), a Buffalo, New York-based bank holding company, has garnered a "Moderate Buy" consensus rating from Wall Street analysts, though the level of bullishness has shifted over recent months [1, 3, 4]. The company, valued between $30.9 billion and $31.8 billion by market cap across different reporting periods, offers a range of financial services including commercial banking, mortgage finance, and wealth management [1, 3, 4].

Key takeaways

• M&T Bank (MTB) holds a "Moderate Buy" consensus rating from analysts [1, 3, 4].
• The number of "Strong Buy" recommendations has decreased in some recent periods [1, 4].
• MTB's stock performance relative to the S&P 500 and regional bank ETFs has varied over the past year and year-to-date [1, 3, 4].
• Analysts anticipate diluted EPS growth for MTB in the current fiscal year, ending in December [1, 3, 4].
• The mean price target for MTB stock suggests a potential upside from current levels [1, 3, 4].

Analyst Sentiment and Price Targets

The consensus among analysts covering M&T Bank stock is a "Moderate Buy" [1, 3, 4]. However, the composition of these ratings has shown some fluctuation. As of one report, 22 analysts covered MTB, with six "Strong Buy" ratings, one "Moderate Buy," 14 "Holds," and one "Strong Sell" [1]. This was noted as less bullish than two months prior, when seven analysts suggested a "Strong Buy" [1]. Another report, based on 19 analysts, indicated nine "Strong Buy" ratings, one "Moderate Buy," eight "Holds," and one "Strong Sell," which was also less bullish than three months prior when 10 analysts recommended a "Strong Buy" [4]. A separate analysis of 21 analysts showed 10 "Strong Buy" ratings, two "Moderate Buys," eight "Holds," and one "Strong Sell," a configuration described as consistent over three months [3].

Individual analysts have also provided specific ratings and price targets. On May 20, RBC Capital analyst Gerard Cassidy maintained a "Buy" rating on MTB, setting a price target of $225, which implied a potential upside of 5.5% from then-current levels [1]. On February 20, Barclays PLC analyst Jason Goldberg maintained a "Hold" rating with a price target of $235, suggesting a 21.8% potential upside [4]. JPMorgan Chase & Co. analyst Andrew J Dietrich maintained a "Hold" rating on August 1, with a price target of $206, implying a 4.1% potential upside [3]. The mean price target for MTB has ranged from $218.50 to $234.25, representing premiums of 9.9% to 17.3% to current price levels, depending on the reporting period [1, 3, 4]. Street-high price targets have been set between $240 and $269, suggesting potential upsides of 21.3% to 39.5% [1, 3, 4].

Recent Performance and Financials

M&T Bank's stock performance has shown mixed results when compared to broader market indices and regional bank ETFs. In one instance, MTB gained 18% over the past year, underperforming the S&P 500 Index's 27.9% rally, and its year-to-date gain of 5.8% trailed the S&P 500's 9.2% rise [1]. However, its year-to-date returns did outshine the iShares U.S. Regional Banks ETF (IAT), which gained 3.9% over the same period [1]. Other reports indicate periods where MTB outperformed the S&P 500 over the past year, with gains of 17.3% against the S&P 500's 14.3% [3] and 39.7% against the S&P 500's 17.6% [4]. Year-to-date performance also varied, with MTB sometimes trailing the S&P 500 [3] and at other times surpassing it [4].