Stock in Focus: M&T Bank Corporation (MTB)

Company Profile:

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. As of December 31, 2018, the company had 750 domestic banking offices in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, and the District of Columbia; a full-service commercial banking office in Ontario, and Canada; and an office in George Town, Cayman Islands. M&T Bank Corporation was founded in 1856 and is headquartered in Buffalo, New York.

Recent News:

MTB pulled off fourth-quarter 2019 positive earnings surprise of 3.7% on higher mortgage banking revenues. Net income for the quarter was $493 million, down 10% from the $546 million recorded a year ago. For full-year 2019, M&T Bank reported net income of $1.93 billion or $13.75 per share compared with $1.92 billion or $12.74 in the previous year.

It has declared a quarterly cash dividend of $1.10 per share on its common stock. This represents an increase of $.10 per share, or 10%, from the previous $1.00 per share dividend paid in the third quarter of 2019.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

MTB’s strengths can be seen in its better profitability compared with its peers. Its revenue and net income have increased over recently several years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator. The RSI stands at 61.18 with positive bias. We rate M&T Bank Corporation (MTB) a STRONG BUY.

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