MTB Stock Gets Boost on Revenue Beat

The equity is still down 35% year-to-date

Deputy Editor
Apr 20, 2020 at 1:40 PM
facebook twitter linkedin

The shares of M&T Bank Corporation (NYSE:MTB) are up 4.3% at $109.82, after the firm posted its first-quarter report. The financial name announced lower-than-estimated first-quarter earnings of $1.93 per share, but $1.51 billion in revenue, which exceeded analysts' expectations.  

It's been a choppy ride for MTB since it's dramatic March selloff sent it careening towards a seven-year low of $87.64 on March 23. The stock is still down over 35% year-to-date, though it's on track to close north of its 30-day moving average -- a trendline MTB has been testing support atop in recent weeks. 

MTB Chart Apr 20

Out of 15 analysts in coverage, 14 sport a tepid "hold" rating, with only one considering MTB a "strong buy." On the other hand, the 12-month consensus target price of $131.24 is an 18.6% premium to current levels. 

Meanwhile, short interest is down 13.9% in the last reporting period to make up 2.18 million shares. Now, these pessimistic positions only account for 1.7% of the MTB's available float, or a little over two days at the stock's average pace of trading. 



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners