FY2024 EPS Estimates for M&T Bank Lifted by Zacks Research

M&T Bank Co. (NYSE:MTB) – Equities research analysts at Zacks Research raised their FY2024 earnings estimates for shares of M&T Bank in a research note issued on Thursday, November 7th. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $14.53 per share for the year, up from their previous estimate of $13.98. The consensus estimate for M&T Bank’s current full-year earnings is $14.56 per share. Zacks Research also issued estimates for M&T Bank’s Q4 2024 earnings at $3.57 EPS, Q2 2025 earnings at $3.89 EPS, Q3 2025 earnings at $4.30 EPS, Q2 2026 earnings at $4.72 EPS and Q3 2026 earnings at $4.57 EPS.

MTB has been the topic of several other research reports. Morgan Stanley boosted their target price on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Wedbush upped their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. DA Davidson upped their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Finally, Evercore ISI upped their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $198.76.

M&T Bank Stock Down 0.6 %

NYSE:MTB opened at $213.27 on Monday. The company has a market cap of $35.39 billion, a PE ratio of 15.89, a P/E/G ratio of 2.97 and a beta of 0.74. M&T Bank has a twelve month low of $116.07 and a twelve month high of $216.84. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $183.56 and its two-hundred day moving average is $165.45.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%.

Institutional Investors Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in M&T Bank during the 1st quarter worth about $613,000. Duality Advisers LP purchased a new stake in M&T Bank during the 1st quarter worth about $201,000. Envestnet Portfolio Solutions Inc. increased its holdings in M&T Bank by 13.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,471 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 535 shares during the period. Empowered Funds LLC increased its holdings in M&T Bank by 26.7% during the 1st quarter. Empowered Funds LLC now owns 2,204 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 465 shares during the period. Finally, SG Americas Securities LLC increased its holdings in M&T Bank by 178.6% during the 1st quarter. SG Americas Securities LLC now owns 22,362 shares of the financial services provider’s stock worth $3,252,000 after purchasing an additional 14,334 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, Director Kirk W. Walters sold 1,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the sale, the director now owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total value of $396,000.00. Following the completion of the sale, the director now owns 29,796 shares of the company’s stock, valued at approximately $5,899,608. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 1,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total transaction of $334,249.80. Following the completion of the transaction, the director now owns 2,108 shares in the company, valued at approximately $443,143.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,088 shares of company stock valued at $12,613,397 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s payout ratio is 39.97%.

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.