What is DA Davidson’s Forecast for M&T Bank FY2024 Earnings?

M&T Bank Co. (NYSE:MTB) – Investment analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for shares of M&T Bank in a report issued on Monday, October 21st. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings per share of $14.48 for the year, up from their previous forecast of $14.25. 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. DA Davidson also issued estimates for M&T Bank’s FY2025 earnings at $16.36 EPS.

A number of other equities research analysts also recently weighed in on MTB. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. The Goldman Sachs Group upped their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report 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 on the stock in a report on Friday, October 4th. Wedbush boosted their price target on 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, Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $197.47.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $193.85 on Tuesday. 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 capitalization of $32.34 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. M&T Bank has a twelve month low of $108.53 and a twelve month high of $200.94. The company has a 50-day simple moving average of $174.96 and a two-hundred day simple moving average of $159.94.

Institutional Trading of M&T Bank

Several institutional investors have recently added to or reduced their stakes in MTB. Marshall Wace LLP raised its holdings in M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares during the last quarter. International Assets Investment Management LLC raised its stake in M&T Bank by 17,784.1% during the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after buying an additional 109,550 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in M&T Bank by 195.1% during the first quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock valued at $19,480,000 after acquiring an additional 83,814 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other M&T Bank 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 transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,199 shares of company stock valued at $4,856,869 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.79%. M&T Bank’s dividend payout ratio is currently 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.