Zacks Research Has Positive View of M&T Bank FY2024 Earnings

M&T Bank Co. (NYSE:MTB) – Investment analysts at Zacks Research upped their FY2024 earnings estimates for shares of M&T Bank in a research note issued on Thursday, November 7th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $14.53 per share for the year, up from their prior estimate of $13.98. The consensus estimate for M&T Bank’s current full-year earnings is $14.56 per share. Zacks Research also issued estimates for M&T Bank’s Q4 2024 earnings at $3.57 EPS, Q2 2025 earnings at $3.89 EPS, Q3 2025 earnings at $4.30 EPS, Q2 2026 earnings at $4.72 EPS and Q3 2026 earnings at $4.57 EPS.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%.

A number of other equities analysts have also recently commented on MTB. DA Davidson lifted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Morgan Stanley raised their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America increased their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Barclays increased their price target on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $198.76.

M&T Bank Stock Up 2.5 %

Shares of NYSE MTB opened at $214.64 on Monday. The stock has a market capitalization of $35.61 billion, a P/E ratio of 15.50, a PEG ratio of 2.97 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 1.00. M&T Bank has a one year low of $116.07 and a one year high of $216.84. The firm’s 50 day simple moving average is $182.71 and its two-hundred day simple moving average is $164.98.

M&T Bank Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 39.97%.

Insider Buying and Selling

In other news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,088 shares of company stock worth $12,613,397 in the last three months. 0.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTB. Plato Investment Management Ltd raised its position in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank during the third quarter valued at approximately $32,000. Hexagon Capital Partners LLC lifted its position in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the period. Oakworth Capital Inc. purchased a new stake in M&T Bank in the second quarter worth approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.