Q3 2024 EPS Estimates for M&T Bank Co. (NYSE:MTB) Boosted by Zacks Research

M&T Bank Co. (NYSE:MTB) – Zacks Research upped their Q3 2024 EPS estimates for M&T Bank in a research report issued on Monday, May 6th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $3.62 per share for the quarter, up from their prior estimate of $3.47. The consensus estimate for M&T Bank’s current full-year earnings is $13.92 per share. Zacks Research also issued estimates for M&T Bank’s FY2024 earnings at $13.90 EPS, Q2 2025 earnings at $3.87 EPS, Q3 2025 earnings at $4.18 EPS, Q4 2025 earnings at $4.56 EPS, FY2025 earnings at $16.14 EPS and FY2026 earnings at $18.40 EPS.

Other analysts also recently issued reports about the stock. Royal Bank of Canada restated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Jefferies Financial Group cut their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Stock Up 0.9 %

Shares of M&T Bank stock opened at $152.66 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The business has a 50-day moving average of $142.53 and a two-hundred day moving average of $135.27. M&T Bank has a 1 year low of $108.53 and a 1 year high of $152.91. The company has a market capitalization of $25.47 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during 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 in the prior year, the company earned $4.09 EPS.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 dividend yield of 3.41%. M&T Bank’s payout ratio is 35.16%.

Insider Transactions at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction that occurred on Monday, March 11th. The stock was 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 $718,000. The disclosure for this sale can be found here. In the last three months, insiders sold 79,020 shares of company stock worth $11,533,507. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

Several institutional investors and hedge funds have recently modified their holdings of MTB. Raymond James Financial Services Advisors Inc. raised its stake in M&T Bank by 7.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 37,521 shares of the financial services provider’s stock valued at $4,744,000 after purchasing an additional 2,726 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of M&T Bank by 3.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 33,152 shares of the financial services provider’s stock worth $4,192,000 after acquiring an additional 1,128 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in M&T Bank by 15.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,814 shares of the financial services provider’s stock valued at $5,287,000 after acquiring an additional 5,634 shares during the last quarter. Advisor Partners II LLC raised its position in M&T Bank by 27.2% during the third quarter. Advisor Partners II LLC now owns 11,885 shares of the financial services provider’s stock valued at $1,503,000 after purchasing an additional 2,541 shares in the last quarter. Finally, TIAA Trust National Association bought a new stake in M&T Bank during the third quarter worth $939,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.