M&T Bank Co. to Post Q2 2024 Earnings of $3.51 Per Share, Wedbush Forecasts (NYSE:MTB)

M&T Bank Co. (NYSE:MTB - Free Report) - Equities research analysts at Wedbush increased their Q2 2024 earnings estimates for shares of M&T Bank in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $3.51 per share for the quarter, up from their prior estimate 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.

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

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of M&T Bank from a "hold" rating to a "sell" rating in a report on Wednesday, December 27th. DA Davidson restated a "neutral" rating and issued a $159.00 price target on shares of M&T Bank in a research note on Wednesday, March 6th. UBS Group increased their price objective on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Barclays upped 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 note on Tuesday, January 2nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $160.00 target price on shares of M&T Bank in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $150.17.

M&T Bank Stock Up 0.4 %

Shares of MTB traded up $0.64 during trading hours on Thursday, hitting $145.44. The company had a trading volume of 792,221 shares, compared to its average volume of 1,225,115. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23. The firm has a fifty day moving average price of $139.09 and a 200-day moving average price of $131.39. The stock has a market capitalization of $24.23 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 1.25 and a beta of 0.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.58%. M&T Bank's dividend payout ratio (DPR) is presently 32.95%.

Insider Buying and Selling

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company'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 value of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank 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 sale, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction dated 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 transaction, the director now directly owns 6,367 shares of the company's stock, valued at approximately $923,215. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,481 shares of company stock valued at $5,114,624. 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. Virtu Financial LLC grew its position in M&T Bank by 17,405.3% in the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider's stock valued at $105,417,000 after acquiring an additional 5,243,349 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of M&T Bank by 113.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 313,302 shares of the financial services provider's stock worth $42,949,000 after purchasing an additional 2,645,478 shares during the last quarter. Spring Creek Capital LLC lifted its position in M&T Bank by 217.0% during the first quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider's stock valued at $66,759,000 after purchasing an additional 2,286,251 shares during the period. Norges Bank purchased a new stake in shares of M&T Bank in the fourth quarter worth about $232,322,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of M&T Bank by 76.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider's stock worth $71,171,000 after purchasing an additional 1,538,436 shares during the period. 84.68% of the stock is currently 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.