FY2024 EPS Estimates for M&T Bank Co. (NYSE:MTB) Reduced by DA Davidson

M&T Bank Co. (NYSE:MTB) – Investment analysts at DA Davidson cut their FY2024 earnings per share estimates for shares of M&T Bank in a research note issued on Tuesday, April 16th. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings of $13.92 per share for the year, down from their previous forecast of $14.15. DA Davidson currently has a “Neutral” rating and a $159.00 target price on the stock. The consensus estimate for M&T Bank’s current full-year earnings is $13.93 per share. DA Davidson also issued estimates for M&T Bank’s FY2025 earnings at $15.93 EPS.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America lifted their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a report on Tuesday. Barclays lifted their price objective on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods increased their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.48.

M&T Bank Stock Up 0.2 %

Shares of MTB stock opened at $139.30 on Thursday. The stock’s 50 day simple moving average is $139.76 and its 200 day simple moving average is $132.81. M&T Bank has a twelve month low of $108.53 and a twelve month high of $148.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.26 and a beta of 0.80.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter last year, the business earned $4.09 earnings per share.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.73%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Insider Transactions at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,481 shares of company stock valued at $5,114,624. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its stake in shares of M&T Bank by 7.8% in the fourth quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 67 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its stake in shares of M&T Bank by 2.6% during the third quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock valued at $394,000 after acquiring an additional 80 shares during the period. Burns J W & Co. Inc. NY boosted its holdings in M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 80 shares during the last quarter. First Horizon Advisors Inc. increased its position in M&T Bank by 3.2% in the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 80 shares during the period. Finally, Fulton Bank N.A. grew its position in shares of M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.