Added to YB: 2023-04-02
Pitch date: 2023-04-02
MTB [bullish]
M&T Bank Corporation
+125.59%
current return
Author Info
No bio for this author
Company Info
M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.
Market Cap
$36.3B
Pitch Price
$108.41
Price Target
N/A
Dividend
2.39%
EV/EBITDA
N/A
P/E
13.28
EV/Sales
N/A
Sector
Banks
Category
value
M&T Bank (MTB)
MTB (new position): Adding below cost basis amid regional bank panic. CEO Jones avoided overpriced securities pre-rate hikes ('held our fire'), unlike failed peers. Positioned to gain deposits/share. Trades 0.9x book, 6.6x 2023E EPS, 4.4% yield, 4% buyback. Shrewd M&A (PBCT deal).
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