M&T Bank Corporation [MTB] is 6.17% higher this YTD. Is it still time to buy?

M&T Bank Corporation [NYSE: MTB] slipped around -26.3 points on Wednesday, while shares priced at $163.06 at the close of the session, down -13.89%. The company report on October 19, 2022 that M&T BANK CORPORATION ANNOUNCES THIRD QUARTER RESULTS.

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M&T Bank Corporation (“M&T”) (NYSE: MTB) today reported its results of operations for the quarter ended September 30, 2022.

GAAP Results of Operations. Diluted earnings per common share measured in accordance with generally accepted accounting principles (“GAAP”) were $3.53 in the third quarter of 2022, compared with $3.69 in the year-earlier quarter and $1.08 in the second quarter of 2022. GAAP-basis net income was $647 million in the recent quarter, $495 million in the third quarter of 2021 and $218 million in the second 2022 quarter. GAAP-basis net income expressed as an annualized rate of return on average assets was 1.28% in each of the third quarters of 2022 and 2021, and.42% in the second quarter of 2022. That net income produced a return on average common shareholders’ equity of 10.43% in the recent quarter, 12.16% in the similar 2021 period and 3.21% in the second quarter of 2022. The results reflect non-operating merger-related expenses associated with the acquisition of People’s United Financial, Inc. (“People’s United”) of $53 million ($39 million after-tax effect, or $0.22 of diluted earnings per common share) in the recent quarter, compared with $9 million ($7 million after-tax effect, or $.05 of diluted earnings per common share) in the year-earlier quarter and $465 million ($346 million after-tax effect, or $1.94 of diluted earnings per share) in the second quarter of 2022.

M&T Bank Corporation stock is now 6.17% up from its year-to-date (YTD) trading value. MTB Stock saw the intraday high of $174.93 and lowest of $161.79 per share. The company’s 52-week high price is 193.42, which means current price is +9.58% above from all time high which was touched on 08/16/22.

Compared to the average trading volume of 969.01K shares, MTB reached a trading volume of 5946270 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 $209.27 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 2.30. 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.

Citigroup have made an estimate for M&T Bank Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 04, 2022. While these analysts kept the previous recommendation, Wedbush raised their target price to Neutral. The new note on the price target was released on September 28, 2022, representing the official price target for M&T Bank Corporation stock. Previously, the target price had yet another raise to $200, while Robert W. Baird analysts kept a Outperform rating on MTB stock. On April 21, 2022, analysts increased their price target for MTB shares from 179 to 238.

The Average True Range (ATR) for M&T Bank Corporation is set at 7.26, with the Price to Sales ratio for MTB stock in the period of the last 12 months amounting to 6.65. The Price to Book ratio for the last quarter was 1.22, with the Price to Cash per share for the same quarter was set at 204.48. Price to Free Cash Flow for MTB in the course of the last twelve months was 10.29.

How has MTB stock performed recently?

M&T Bank Corporation [MTB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.81. With this latest performance, MTB shares dropped by -12.89% in over the last four-week period, additionally sinking by -7.53% over the last 6 months – not to mention a rise of 7.53% 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 32.94, with the RSI for the last a single of trading hit 27.79, and the three-weeks RSI is set at 36.80 for M&T Bank Corporation [MTB]. The present Moving Average for the last 50 days of trading for this stock 183.89, while it was recorded at 182.62 for the last single week of trading, and 174.46 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 +43.50. M&T Bank Corporation’s Net Margin is presently recorded at +28.68.

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 22.31%.

Insider trade positions for M&T Bank Corporation [MTB]

There are presently around $24,449 million, or 86.40% of MTB stock, in the hands of institutional investors. The top three institutional holders of MTB stocks are: VANGUARD GROUP INC with ownership of 20,730,723, which is approximately 2.232% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 14,513,125 shares of the stock with an approximate value of $2.37 billion in MTB stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $1.67 billion in MTB stock with ownership of nearly 18.78% of the company’s market capitalization.

425 institutional holders increased their position in M&T Bank Corporation [NYSE:MTB] by around 12,334,986 shares. Additionally, 452 investors decreased positions by around 23,345,299 shares, while 146 investors held positions by with 114,258,981 shares. The mentioned changes placed institutional holdings at 149,939,266 shares, according to the latest SEC report filing. MTB stock had 94 new institutional investments in for a total of 3,148,099 shares, while 135 institutional investors sold positions of 8,674,076 shares during the same period.


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