Q3 2024 Earnings Estimate for M&T Bank Co. (NYSE:MTB) Issued By Zacks Research

M&T Bank Co. (NYSE:MTB) – Equities researchers at Zacks Research upped their Q3 2024 earnings per share estimates for shares of M&T Bank in a research report issued on Monday, May 6th. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $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 research analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Bank of America increased their target price on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Jefferies Financial Group dropped their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Wells Fargo & Company increased their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Piper Sandler lowered their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $158.48.

M&T Bank Stock Performance

NYSE:MTB opened at $151.28 on Thursday. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $151.33. 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 50 day moving average price of $142.27 and a 200 day moving average price of $135.15. The stock has a market capitalization of $25.24 billion, a P/E ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last posted its earnings results 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 company 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 period in the previous year, the company earned $4.09 EPS.

Institutional Trading of M&T Bank

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in shares of M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after buying an additional 650,796 shares during the period. Charles Schwab Investment Management Inc. lifted its position in M&T Bank by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock worth $454,675,000 after acquiring an additional 41,790 shares during the period. Massachusetts Financial Services Co. MA lifted its position in M&T Bank by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock worth $237,265,000 after acquiring an additional 4,419 shares during the period. Norges Bank acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $232,322,000. Finally, Northern Trust Corp increased its holdings in shares of M&T Bank by 3.7% in the third quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock valued at $211,404,000 after purchasing an additional 59,690 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 3,362 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total value of $495,121.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Doris P. Meister sold 3,362 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.27, for a total value of $495,121.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred 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 directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders sold a total of 79,020 shares of company stock worth $11,533,507 over the last 90 days. 0.82% of the stock is owned by insiders.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

About M&T Bank

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.