DA Davidson Issues Optimistic Estimate for M&T Bank Earnings

M&T Bank Co. (NYSE:MTB) – Equities researchers at DA Davidson increased their FY2024 earnings estimates for M&T Bank in a research report issued on Monday, October 21st. DA Davidson analyst P. Winter now expects that the financial services provider will earn $14.48 per share for the year, up from their previous estimate of $14.25. DA Davidson has a “Neutral” rating and a $207.00 price target on the stock. The consensus estimate for M&T Bank’s current full-year earnings is $14.16 per share. DA Davidson also issued estimates for M&T Bank’s FY2025 earnings at $16.36 EPS.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley boosted their price target on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Citigroup boosted their target price on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wedbush boosted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Barclays raised their target price on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One equities research 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 company presently has an average rating of “Hold” and a consensus price target of $197.47.

M&T Bank Stock Up 0.3 %

Shares of NYSE MTB opened at $194.12 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $32.39 billion, a PE ratio of 13.13, a P/E/G ratio of 3.27 and a beta of 0.75. The firm has a fifty day moving average of $174.28 and a 200-day moving average of $159.70. M&T Bank has a 52-week low of $108.53 and a 52-week high of $200.94.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after acquiring an additional 81,004 shares during the period. Dimensional Fund Advisors LP grew its position in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after purchasing an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of M&T Bank by 3.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after buying an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other M&T Bank news, EVP Michael J. Todaro sold 4,791 shares of M&T Bank stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $162.57, for a total value of $778,872.87. Following the completion of the transaction, the executive vice president now directly owns 3,086 shares in the company, valued at $501,691.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now owns 15,045 shares in the company, valued at $2,617,378.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,199 shares of company stock worth $4,856,869. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.78%. M&T Bank’s dividend payout ratio is presently 36.51%.

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.