M&T Bank Corporation [NYSE: MTB] jumped around 14.3 points on Wednesday, while shares priced at $176.34 at the close of the session, up 8.82%. The company report on April 20, 2022 that M&T Bank Corporation Announces First Quarter Results.
M&T Bank Corporation (“M&T”) (NYSE: MTB) today reported its results of operations for the quarter ended March 31, 2022.
GAAP Results of Operations. Diluted earnings per common share measured in accordance with generally accepted accounting principles (“GAAP”) were $2.62 in the first quarter of 2022, compared with $3.33 in the year-earlier quarter and $3.37 in the fourth quarter of 2021. GAAP-basis net income was $362 million in the recent quarter, $447 million in the first quarter of 2021 and $458 million in the final 2021 quarter. GAAP-basis net income in the initial quarter of 2022 expressed as an annualized rate of return on average assets and average common shareholders’ equity was .97% and 8.55%, respectively, compared with 1.22% and 11.57%, respectively, in the similar 2021 period and 1.15% and 10.91%, respectively, in the fourth quarter of 2021. Included in noninterest expenses in the recent quarter were merger-related expenses associated with M&T’s acquisition of People’s United Financial, Inc. (“People’s United”) of $17 million ($13 million after-tax effect, or $.10 of diluted earnings per common share), compared with $10 million ($8 million after-tax effect, or $.06 of diluted earnings per common share) in the year-earlier quarter and $21 million ($16 million after-tax effect, or $.12 of diluted earnings per share) in the fourth quarter of 2021.
M&T Bank Corporation stock is now 14.82% up from its year-to-date (YTD) trading value. MTB Stock saw the intraday high of $181.98 and lowest of $161.31 per share. The company’s 52-week high price is 186.95, which means current price is +13.59% above from all time high which was touched on 02/10/22.
Compared to the average trading volume of 1.73M shares, MTB reached a trading volume of 4115562 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about M&T Bank Corporation [MTB]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MTB shares is $192.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MTB stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for M&T Bank Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 28, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on March 24, 2022, representing the official price target for M&T Bank Corporation stock. Previously, the target price had yet another raise from $170 to $190, while Piper Sandler kept a Overweight rating on MTB stock.
The Average True Range (ATR) for M&T Bank Corporation is set at 5.96, with the Price to Sales ratio for MTB stock in the period of the last 12 months amounting to 8.06. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 245.08. Price to Free Cash Flow for MTB in the course of the last twelve months was 16.00.
How has MTB stock performed recently?
M&T Bank Corporation [MTB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.88. With this latest performance, MTB shares dropped by -2.35% in over the last four-week period, additionally plugging by 16.29% over the last 6 months – not to mention a rise of 15.26% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MTB stock in for the last two-week period is set at 59.04, with the RSI for the last a single of trading hit 67.78, and the three-weeks RSI is set at 55.19 for M&T Bank Corporation [MTB]. The present Moving Average for the last 50 days of trading for this stock 174.74, while it was recorded at 163.36 for the last single week of trading, and 156.59 for the last 200 days.
M&T Bank Corporation [MTB]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and M&T Bank Corporation [MTB] shares currently have an operating margin of +39.03. M&T Bank Corporation’s Net Margin is presently recorded at +30.95.
Return on Equity for this stock inclined to 10.85, with Return on Assets sitting at 1.24.
Earnings analysis for M&T Bank Corporation [MTB]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MTB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for M&T Bank Corporation go to 5.69%.
Insider trade positions for M&T Bank Corporation [MTB]
There are presently around $24,442 million, or 63.40% of MTB stock, in the hands of institutional investors. The top three institutional holders of MTB stocks are: VANGUARD GROUP INC with ownership of 19,891,489, which is approximately 0.473% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 14,656,042 shares of the stock with an approximate value of $2.37 billion in MTB stocks shares; and STATE STREET CORP, currently with $2.17 billion in MTB stock with ownership of nearly -4.418% of the company’s market capitalization.
Positions in M&T Bank Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 429 institutional holders increased their position in M&T Bank Corporation [NYSE:MTB] by around 12,622,961 shares. Additionally, 370 investors decreased positions by around 9,749,163 shares, while 177 investors held positions by with 128,467,911 shares. The mentioned changes placed institutional holdings at 150,840,035 shares, according to the latest SEC report filing. MTB stock had 137 new institutional investments in for a total of 4,556,639 shares, while 74 institutional investors sold positions of 1,951,446 shares during the same period.