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

M&T Bank Co. (NYSE:MTB) – Stock analysts at DA Davidson raised their Q3 2024 earnings per share estimates for M&T Bank in a report released on Thursday, October 3rd. DA Davidson analyst P. Winter now forecasts that the financial services provider will post earnings per share of $3.67 for the quarter, up from their previous forecast of $3.66. DA Davidson has a “Neutral” rating and a $185.00 price target on the stock. The consensus estimate for M&T Bank’s current full-year earnings is $14.23 per share.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $5.12 earnings per share.

Several other analysts have also issued reports on MTB. Royal Bank of Canada boosted their target price on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group boosted their price objective on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Morgan Stanley upped their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a 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 research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $185.75.

M&T Bank Stock Down 0.2 %

Shares of NYSE:MTB opened at $177.52 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock has a market cap of $29.62 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 3.55 and a beta of 0.75. The business’s 50 day moving average is $168.96 and its 200 day moving average is $156.14. M&T Bank has a 12-month low of $108.53 and a 12-month high of $180.63.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Meeder Advisory Services Inc. raised its position in M&T Bank by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after buying an additional 70 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of M&T Bank by 1.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 70 shares during the last quarter. Umpqua Bank increased its position in M&T Bank by 5.3% during the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after buying an additional 73 shares in the last quarter. Fulton Bank N.A. increased its position in M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 81 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of M&T Bank by 6.7% in the second quarter. Citizens Financial Group Inc. RI now owns 1,474 shares of the financial services provider’s stock valued at $223,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the transaction, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 in the last 90 days. 0.82% of the stock is currently owned by company insiders.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. M&T Bank’s payout ratio is 36.51%.

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.