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M&T Bank (MTB) Receives a Rating Update from a Top Analyst

M&T Bank (MTB) Receives a Rating Update from a Top Analyst

In a report released yesterday, Gerard Cassidy from RBC Capital maintained a Buy rating on M&T Bank (MTB – Research Report), with a price target of $200.00. The company's shares closed yesterday at $193.99.
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According to TipRanks, Cassidy is a top 100 analyst with an average return of 19.7% and a 68.00% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase, M&T Bank, and Bank of America.
In addition to RBC Capital, M&T Bank also received a Buy from Morgan Stanley's Manan Gosalia in a report issued on June 29. However, on June 26, Barclays maintained a Hold rating on M&T Bank (NYSE: MTB).
Based on M&T Bank's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.17 billion and a net profit of $584 million. In comparison, last year the company earned a revenue of $3.3 billion and had a net profit of $531 million
Based on the recent corporate insider activity of 96 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. Last month, Robert Sadler, a Director at MTB sold 6,700.00 shares for a total of $1,229,584.00.
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