Zacks Research Has Bullish Forecast for M&T Bank Q4 Earnings

M&T Bank Co. (NYSE:MTB) – Research analysts at Zacks Research lifted their Q4 2024 earnings estimates for shares of M&T Bank in a research report issued on Tuesday, November 26th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings of $3.60 per share for the quarter, up from their previous estimate of $3.57. 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 Q1 2025 earnings at $3.46 EPS and Q3 2026 earnings at $4.60 EPS.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion.

Several other research firms have also weighed in on MTB. Piper Sandler boosted their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday. Wolfe Research raised shares of 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. Royal Bank of Canada lifted their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Wedbush increased their price target on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $206.41.

M&T Bank Price Performance

Shares of MTB opened at $220.80 on Thursday. M&T Bank has a 52 week low of $123.46 and a 52 week high of $225.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 3.13 and a beta of 0.74. The stock has a 50 day moving average of $194.82 and a 200-day moving average of $171.05.

Institutional Investors Weigh In On M&T Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hedeker Wealth LLC boosted its position in shares of M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC lifted its stake in M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 57 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after buying an additional 57 shares in the last quarter. Hexagon Capital Partners LLC grew its position in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its position in M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after buying an additional 69 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at M&T Bank

In other news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. The trade was a 23.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This trade represents a 18.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 90,383 shares of company stock valued at $17,925,801. Company insiders own 0.82% of the company’s stock.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

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.