M&T Bank Co. (NYSE:MTB) Forecasted to Post Q4 2024 Earnings of $3.66 Per Share

M&T Bank Co. (NYSE:MTB - Free Report) - Equities researchers at Zacks Research boosted their Q4 2024 earnings per share estimates for M&T Bank in a research report issued to clients and investors on Monday, May 6th. Zacks Research analyst R. Department now forecasts that the financial services provider will earn $3.66 per share for the quarter, up from their prior estimate of $3.54. The consensus estimate for M&T Bank's current full-year earnings is $13.92 per share. Zacks Research also issued estimates for M&T Bank's Q1 2025 earnings at $3.53 EPS and Q1 2026 earnings at $4.34 EPS.

A number of other brokerages also recently issued reports on MTB. Royal Bank of Canada restated an "outperform" rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. DA Davidson restated a "neutral" rating and issued a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Morgan Stanley boosted their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Wells Fargo & Company raised their target price on shares of M&T Bank from $145.00 to $150.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 16th. Finally, Wedbush reaffirmed an "outperform" rating and set a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. One investment 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 data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $158.48.

M&T Bank Price Performance

Shares of NYSE MTB traded up $2.97 during mid-day trading on Wednesday, hitting $151.28. 1,048,576 shares of the company's stock traded hands, compared to its average volume of 1,149,599. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a 1 year low of $108.53 and a 1 year high of $151.33. The company's 50-day moving average is $142.27 and its two-hundred day moving average is $135.15. The company has a market capitalization of $25.21 billion, a P/E ratio of 10.23, a PEG ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the previous year, the company earned $4.09 EPS.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.44%. M&T Bank's payout ratio is currently 35.16%.

Insider Buying and Selling at M&T Bank

In related news, EVP Doris P. Meister sold 1,675 shares of the company'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 completion of the sale, the executive vice president now directly owns 8,961 shares of the company's stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the sale, the executive vice president now owns 5,000 shares of the company's stock, valued at approximately $718,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares of the company's stock, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders sold a total of 79,020 shares of company stock valued at $11,533,507 in the last ninety days. Corporate insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On M&T Bank

Large investors have recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. boosted its position in shares of M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider's stock worth $273,000 after purchasing an additional 70 shares in the last quarter. Burns J W & Co. Inc. NY increased its holdings in shares of M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider's stock valued at $827,000 after acquiring an additional 80 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider's stock valued at $349,000 after purchasing an additional 80 shares during the last quarter. Fulton Bank N.A. boosted its stake in M&T Bank by 2.3% in the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider's stock worth $526,000 after purchasing an additional 81 shares in the last quarter. Finally, Robinson Value Management Ltd. grew its position in M&T Bank by 0.3% during the 3rd quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider's stock worth $4,241,000 after purchasing an additional 85 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

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.