Zacks Research Brokers Boost Earnings Estimates for M&T Bank Co. (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) – Investment analysts at Zacks Research boosted their FY2023 earnings per share estimates for shares of M&T Bank in a report released on Tuesday, September 5th. Zacks Research analyst D. Chamria now expects that the financial services provider will post earnings per share of $16.56 for the year, up from their prior estimate of $16.53. The consensus estimate for M&T Bank’s current full-year earnings is $16.43 per share. Zacks Research also issued estimates for M&T Bank’s Q2 2024 earnings at $3.74 EPS, Q1 2025 earnings at $4.25 EPS, Q2 2025 earnings at $4.25 EPS and FY2025 earnings at $17.90 EPS.

Several other research firms have also recently weighed in on MTB. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Wells Fargo & Company cut their price objective on shares of M&T Bank from $145.00 to $140.00 in a research report on Thursday, July 6th. SpectralCast reaffirmed a “maintains” rating on shares of M&T Bank in a report on Wednesday, June 14th. Citigroup cut their price target on M&T Bank from $150.00 to $145.00 in a report on Monday, June 26th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $155.00 target price on shares of M&T Bank in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $158.91.

M&T Bank Price Performance

NYSE MTB opened at $121.79 on Wednesday. The business’s fifty day moving average price is $131.62 and its 200-day moving average price is $127.77. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 0.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank has a 1-year low of $109.36 and a 1-year high of $192.56.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $5.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.16 by $0.89. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a net margin of 26.30% and a return on equity of 13.26%. During the same quarter last year, the firm posted $3.10 EPS.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Stonebridge Capital Advisors LLC boosted its position in shares of M&T Bank by 1,980.0% during the second quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock valued at $26,000 after buying an additional 198 shares during the period. CTC Alternative Strategies Ltd. bought a new stake in shares of M&T Bank during the second quarter worth $340,000. Osaic Holdings Inc. lifted its position in shares of M&T Bank by 6.5% during the second quarter. Osaic Holdings Inc. now owns 82,530 shares of the financial services provider’s stock worth $10,231,000 after purchasing an additional 5,013 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of M&T Bank by 2.1% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 57,901 shares of the financial services provider’s stock worth $7,166,000 after purchasing an additional 1,207 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of M&T Bank by 428.8% during the second quarter. Orion Portfolio Solutions LLC now owns 53,091 shares of the financial services provider’s stock worth $6,570,000 after purchasing an additional 43,051 shares during the last quarter. Hedge funds and other institutional investors own 82.86% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,334 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $140.43, for a total transaction of $187,333.62. Following the completion of the transaction, the executive vice president now owns 8,055 shares in the company, valued at approximately $1,131,163.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other M&T Bank news, EVP Doris P. Meister sold 1,334 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $140.43, for a total transaction of $187,333.62. Following the completion of the transaction, the executive vice president now owns 8,055 shares in the company, valued at $1,131,163.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $136.02, for a total value of $136,020.00. Following the sale, the executive vice president now owns 7,055 shares in the company, valued at $959,621.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,876 shares of company stock worth $7,819,234. Insiders own 0.97% of the company’s stock.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $5.20 dividend on an annualized basis and a yield of 4.27%. M&T Bank’s dividend payout ratio is currently 30.81%.

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 offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.