Q2 2024 EPS Estimates for M&T Bank Co. Lifted by Analyst (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) – Equities research analysts at Wedbush lifted their Q2 2024 EPS estimates for M&T Bank in a research note issued to investors on Monday, April 15th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $3.70 per share for the quarter, up from their prior estimate of $3.51. Wedbush has a “Outperform” rating and a $170.00 price target on the stock. The consensus estimate for M&T Bank’s current full-year earnings is $13.93 per share. Wedbush also issued estimates for M&T Bank’s Q3 2024 earnings at $3.74 EPS, Q1 2025 earnings at $3.62 EPS, Q2 2025 earnings at $4.04 EPS, Q3 2025 earnings at $4.24 EPS, Q4 2025 earnings at $4.30 EPS and FY2025 earnings at $16.20 EPS.

Several other analysts have also recently commented on the company. Keefe, Bruyette & Woods raised their price target on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday. Jefferies Financial Group reduced their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. Wells Fargo & Company lifted their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $158.48.

M&T Bank Price Performance

Shares of MTB opened at $139.30 on Wednesday. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.23. The firm has a 50-day simple moving average of $139.76 and a 200-day simple moving average of $132.81. The company has a market capitalization of $23.21 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.

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

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis 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 Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,481 shares of company stock valued at $5,114,624. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of MTB. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the fourth quarter worth about $25,000. Clear Street Markets LLC acquired a new position in shares of M&T Bank in the fourth quarter worth about $25,000. RVW Wealth LLC acquired a new position in shares of M&T Bank in the third quarter worth about $27,000. General Partner Inc. acquired a new position in shares of M&T Bank in the first quarter worth about $27,000. Finally, Quarry LP acquired a new position in shares of M&T Bank in the first quarter worth about $27,000. Hedge funds and other institutional investors 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.