DA Davidson Forecasts M&T Bank’s Q4 Earnings (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) – DA Davidson issued their Q4 2024 earnings estimates for shares of M&T Bank in a research report issued to clients and investors on Monday, October 21st. DA Davidson analyst P. Winter forecasts that the financial services provider will earn $3.78 per share for the quarter. DA Davidson has a “Neutral” rating and a $207.00 price objective on the stock. The consensus estimate for M&T Bank’s current full-year earnings is $14.16 per share.

A number of other analysts have also recently commented on MTB. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Barclays boosted their price objective on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Friday, October 4th. Wells Fargo & Company boosted their price target on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group raised their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus price target of $197.47.

M&T Bank Trading Down 0.1 %

NYSE:MTB opened at $193.85 on Wednesday. M&T Bank has a 52 week low of $108.53 and a 52 week high of $200.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s fifty day moving average is $174.96 and its 200-day moving average is $159.94. The firm has a market cap of $32.34 billion, a P/E ratio of 13.11, a P/E/G ratio of 3.27 and a beta of 0.75.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors have recently made changes to their positions in MTB. Ontario Teachers Pension Plan Board lifted its stake in M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 3,739 shares during the last quarter. Leuthold Group LLC bought a new position in M&T Bank during the 1st quarter worth approximately $3,125,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after purchasing an additional 35,692 shares during the period. Price T Rowe Associates Inc. MD lifted its position in M&T Bank by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after purchasing an additional 18,566 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in shares of M&T Bank by 60.0% during the second quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after purchasing an additional 12,304 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at $502,184.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,199 shares of company stock worth $4,856,869. 0.82% of the stock is owned by corporate insiders.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

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.