M&T Bank Co. to Post Q3 2024 Earnings of $3.62 Per Share, Zacks Research Forecasts (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) – Stock analysts at Zacks Research upped their Q3 2024 earnings per share estimates for shares of M&T Bank in a research report issued to clients and investors on Monday, May 6th. Zacks Research analyst R. Department now anticipates 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.

Several other research analysts have also commented on the stock. Jefferies Financial Group dropped their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, April 8th. Wells Fargo & Company lifted their target price on 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. Morgan Stanley lifted their price objective 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. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $158.48.

M&T Bank Price Performance

NYSE:MTB opened at $152.66 on Thursday. The business has a 50 day simple moving average of $142.53 and a 200-day simple 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 firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.23 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations 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 posted $4.09 earnings per share.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC acquired a new position in shares of M&T Bank during the 4th quarter worth approximately $25,000. General Partner Inc. purchased a new stake in M&T Bank during the 1st quarter worth approximately $27,000. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank in the first quarter valued at approximately $30,000. BKM Wealth Management LLC purchased a new position in M&T Bank during the fourth quarter worth about $32,000. Finally, Headinvest LLC purchased a new position in M&T Bank in the third quarter worth approximately $29,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 16,179 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kirk W. Walters sold 16,179 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the sale, the director now owns 6,348 shares in the company, valued at approximately $939,567.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,020 shares of company stock valued at $11,533,507. 0.82% of the stock is currently owned by insiders.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.41%. M&T Bank’s dividend payout ratio (DPR) is 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.