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

M&T Bank Co. (NYSE:MTB) – Equities researchers at Wedbush lifted their Q2 2024 earnings estimates for M&T Bank in a research note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $3.51 per share for the quarter, up from their previous forecast of $3.49. The consensus estimate for M&T Bank’s current full-year earnings is $13.87 per share. Wedbush also issued estimates for M&T Bank’s Q1 2025 earnings at $3.66 EPS, Q2 2025 earnings at $4.01 EPS, Q3 2025 earnings at $4.23 EPS and Q4 2025 earnings at $4.20 EPS.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.36). The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. During the same period in the prior year, the firm posted $4.57 earnings per share.

A number of other research firms have also recently issued reports on MTB. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price objective for the company. in a research report on Monday, December 18th. UBS Group upped their price objective on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Morgan Stanley increased their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, DA Davidson restated a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $149.71.

M&T Bank Stock Performance

Shares of MTB opened at $144.80 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50-day moving average of $138.81 and a 200-day moving average of $131.30. The company has a market cap of $24.13 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 1.25 and a beta of 0.79. M&T Bank has a one year low of $108.53 and a one year high of $148.23.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.59%. M&T Bank’s dividend payout ratio is presently 32.95%.

Insider Activity at M&T Bank

In other news, EVP Doris P. Meister sold 1,000 shares of the business’s 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 completion of the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated 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 owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Doris P. Meister sold 1,000 shares of the 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 sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,481 shares of company stock worth $5,114,624. Company insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On M&T Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of MTB. HHM Wealth Advisors LLC bought a new position in M&T Bank in the 4th quarter worth $25,000. Clear Street Markets LLC purchased a new stake in shares of M&T Bank in the 4th quarter worth $25,000. Stonebridge Capital Advisors LLC lifted its position in shares of M&T Bank by 1,980.0% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 198 shares during the period. RVW Wealth LLC purchased a new stake in shares of M&T Bank during the third quarter valued at about $27,000. Finally, Quarry LP acquired a new position in shares of M&T Bank during the first quarter worth $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.