Q2 2024 EPS Estimates for M&T Bank Co. (NYSE:MTB) Lifted by Wedbush

M&T Bank Co. (NYSE:MTB) – Research analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for shares of M&T Bank in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $3.51 for the quarter, up from their prior forecast of $3.49. The consensus estimate for M&T Bank’s current full-year earnings is $13.87 per share. Wedbush also issued estimates for M&T Bank’s Q1 2025 earnings at $3.66 EPS, Q2 2025 earnings at $4.01 EPS, Q3 2025 earnings at $4.23 EPS and Q4 2025 earnings at $4.20 EPS.

A number of other equities research analysts also recently weighed in on the stock. UBS Group boosted their price target on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. DA Davidson reissued a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research report on Wednesday, March 6th. Piper Sandler cut their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Barclays boosted their target price on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 price target on the stock. in a research report on Monday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $149.71.

M&T Bank Trading Up 2.5 %

MTB stock opened at $144.80 on Thursday. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.23. The business has a fifty day moving average price of $138.81 and a 200 day moving average price of $131.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 1.25 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $4.57 earnings per share.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is 32.95%.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, 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. Over the last 90 days, insiders have sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank during the fourth quarter worth about $25,000. Clear Street Markets LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at approximately $25,000. Stonebridge Capital Advisors LLC boosted its stake in M&T Bank by 1,980.0% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 198 shares during the period. RVW Wealth LLC acquired a new position in M&T Bank in the third quarter worth about $27,000. Finally, Quarry LP acquired a new position in shares of M&T Bank during the first quarter worth approximately $27,000. 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.