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

M&T Bank Co. (NYSE:MTB) – Stock analysts at Wedbush boosted their Q2 2024 EPS estimates for shares of M&T Bank in a note issued to investors on Monday, April 15th. Wedbush analyst D. Chiaverini now expects that the financial services provider will earn $3.70 per share for the quarter, up from their prior forecast of $3.51. Wedbush currently has a “Outperform” rating and a $170.00 target price 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.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates 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 posted $4.09 earnings per share.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company raised their target price on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday. Barclays raised their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, UBS Group raised their target price on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.48.

M&T Bank Stock Up 0.2 %

M&T Bank stock opened at $139.30 on Wednesday. The stock has a market cap of $23.21 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.26 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank has a twelve month low of $108.53 and a twelve month high of $148.23. The company’s 50-day moving average price is $139.76 and its two-hundred day moving average price is $132.81.

Institutional Trading of M&T Bank

Hedge funds have recently modified their holdings of the stock. HHM Wealth Advisors LLC bought a new stake in M&T Bank in the fourth quarter valued at $25,000. Clear Street Markets LLC acquired a new position in M&T Bank during the 4th quarter worth approximately $25,000. RVW Wealth LLC acquired a new position in M&T Bank during the 3rd quarter worth approximately $27,000. General Partner Inc. acquired a new position in M&T Bank during the 1st quarter worth approximately $27,000. Finally, Quarry LP acquired a new position in M&T Bank during the 1st quarter worth approximately $27,000. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 $962,350.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares in the company, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock worth $5,114,624 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.73%. M&T Bank’s dividend payout ratio is currently 35.16%.

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.