M&T Bank Corporation (MTB): September 2024 Monthly Report
Publication Date: September 22, 2024
Company Overview
M&T Bank Corporation (NYSE: MTB), headquartered in Buffalo, New York, has been a cornerstone in the financial services sector since its founding in 1856. The regional bank holding company operates through three main segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management. M&T Bank offers a diverse array of banking products, including commercial lending, credit facilities, various loan products, and deposit services designed for individuals and middle-market businesses. Additionally, it provides investment management and brokerage services for institutional clients. As a publicly traded entity, M&T Bank is committed to delivering comprehensive financial solutions that cater to the evolving needs of its customer base.
Financial Performance
M&T Bank reported impressive total revenue of approximately $8.47 billion, highlighting its robust financial health and profitability potential. The current stock price is $179.56, with a target high price of $220.00, indicating substantial upside potential for investors. The calculated mean target price stands at $180.28, suggesting cautious optimism regarding the bank’s future valuation. With a total of 167 million shares outstanding and a low short interest of 2.18%, the ownership structure reflects investor confidence in the bank’s performance.
Charting its performance, the current stock price is notably close to its fifty-two week high of $180.25, showcasing strong momentum. The substantial difference between the fifty-two week high and low of $108.53 underscores considerable volatility, while the fifty-day moving average at $167.12 further reinforces the bullish trend observed in recent months.
Analyst Recommendations
M&T Bank enjoys a generally positive sentiment from analysts, with a consensus recommendation to “buy.” The rating mean score of 2.3, based on 19 analyst opinions, supports this outlook and reflects confidence in the stock’s future performance. The calculated target low price of $127.05 and median price of $182.00 indicate potential for upward movement in the stock’s value. With strong financial metrics and a positive analyst consensus, M&T Bank stands out as a promising investment opportunity in the current financial landscape.
| Metric | Value |
|---|---|
| Market Cap | $30.0b |
| Total Debt | $17.1b |
| Total Cash | $26.9b |
| Shares Outstanding | 167.0m |
| Float Shares | 166.0m |
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