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Investing.com - Wolfe Research has lowered its price target on M&T Bank (NYSE:MTB) to $217.00 from $237.00 while maintaining an Outperform rating on the stock.
The firm cited the broad de-rating of the banking sector relative to the market multiple as the primary reason for the adjustment, despite maintaining a bullish long-term outlook on the company.
M&T Bank shares have underperformed year-to-date, falling approximately 5% compared to the Wolfe Research Mid-Cap Bank Index’s 4% decline and the S&P 500’s 13% gain.
Wolfe Research is maintaining its 2026 and 2027 earnings per share estimates at $18.99 and $21.22 respectively, which are approximately 2% and 5% above prior consensus estimates of $18.55 and $20.30.
The new price target was calculated by applying 80% and 20% weightings to the firm’s "Base Case" and "Mild Recession" scenarios respectively, reflecting a more cautious sector outlook despite the bank’s positive fundamentals.
In other recent news, M&T Bank reported its earnings for the third quarter of 2025, surpassing analysts’ expectations with an earnings per share of $4.87, compared to the forecasted $4.42. The bank also exceeded revenue projections, posting $2.51 billion against the anticipated $2.44 billion. Despite these positive earnings results, Jefferies has lowered its price target for M&T Bank to $215 from $235, while maintaining a Buy rating. The firm described the bank’s recent quarterly performance as solid but noted mixed guidance for the fourth quarter of 2025. Specifically, M&T Bank’s net interest margin is expected to be around 3.70%, slightly above Jefferies’ estimate of 3.67%. These developments reflect the ongoing assessment and adjustments by analysts and investors in response to M&T Bank’s recent financial disclosures.
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