#1 - M&T Bank (NYSE:MTB)
It’s always a good idea to have quality financial stocks like M&T Bank (NYSE:MTB) in your portfolio. When interest rates are low, these companies benefit from increased loan activity because it costs less for consumers and businesses to borrow money. And when interest rates rise, banks benefit by having the ability to earn more interest from investing their large supply of cash. This remains true even as banks increase the amount of interest they pay to their depositors.
M&T offers an appealing price-to-earnings ratio of 15x earnings a dividend yield of 2.81% and a consensus price target of $198.74 which is 17% higher than its current price of $168.96. Plus, even though the company missed on earnings in its most recent quarter, it still forecasts full-year earnings per share (EPS) of $19.84. That’s above the bank’s previous guidance and would represent a 42% year-over-year increase.
About M&T Bank
M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.
More- Current Price
- $193.48
- Consensus Rating
- Hold
- Ratings Breakdown
- 8 Buy Ratings, 8 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $221.68 (14.6% Upside)
