M&T Bank Co. (NYSE:MTB) to Post FY2024 Earnings of $14.12 Per Share, Wedbush Forecasts

M&T Bank Co. (NYSE:MTB) – Equities research analysts at Wedbush decreased their FY2024 EPS estimates for shares of M&T Bank in a research note issued on Monday, April 15th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $14.12 per share for the year, down from their previous forecast of $14.15. Wedbush has a “Outperform” rating and a $170.00 price target on the stock. The consensus estimate for M&T Bank’s current full-year earnings is $13.93 per share. Wedbush also issued estimates for M&T Bank’s Q4 2024 earnings at $3.65 EPS.

Several other research analysts have also recently commented on MTB. Piper Sandler lowered their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Bank of America boosted their price target on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, DA Davidson restated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a report on Tuesday. 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 company has an average rating of “Hold” and a consensus target price of $158.48.

M&T Bank Trading Up 0.2 %

NYSE MTB opened at $139.30 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23. The stock has a market capitalization of $23.21 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The firm has a 50 day moving average of $139.76 and a two-hundred day moving average of $132.81.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the firm earned $4.09 EPS.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.73%. M&T Bank’s dividend payout ratio is 35.16%.

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock worth $5,114,624 over the last three months. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in M&T Bank during the 3rd quarter worth approximately $833,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $299,000. Metis Global Partners LLC raised its holdings in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY raised its holdings in shares of M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after purchasing an additional 12,590 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.