M&T Bank Co. Forecasted to Earn Q1 2023 Earnings of $4.02 Per Share (NYSE:MTB)

M&T Bank Co. (NYSE:MTB – Get Rating) – DA Davidson cut their Q1 2023 earnings per share estimates for M&T Bank in a report issued on Tuesday, January 24th. DA Davidson analyst P. Winter now expects that the financial services provider will post earnings of $4.02 per share for the quarter, down from their prior forecast of $4.19. DA Davidson currently has a “Neutral” rating and a $160.00 target price on the stock. The consensus estimate for M&T Bank’s current full-year earnings is $18.18 per share. DA Davidson also issued estimates for M&T Bank’s FY2023 earnings at $18.01 EPS and FY2024 earnings at $18.26 EPS.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered M&T Bank from an “outperform” rating to a “market perform” rating and cut their price target for the company from $215.00 to $180.00 in a report on Tuesday, December 6th. Wedbush upgraded M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 target price on the stock in a report on Tuesday, January 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, January 20th. Odeon Capital Group upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $171.76 target price on the stock in a report on Tuesday, January 10th. Finally, Wells Fargo & Company dropped their target price on M&T Bank from $175.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, December 8th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $182.32.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $154.94 on Wednesday. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.77 and a beta of 0.83. The stock’s 50-day moving average is $153.70 and its 200-day moving average is $168.52. M&T Bank has a one year low of $138.43 and a one year high of $193.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.96.

M&T Bank (NYSE:MTB – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The financial services provider reported $4.29 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.21). M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. During the same period in the prior year, the business earned $3.37 earnings per share.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 1st were paid a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $4.80 annualized dividend and a yield of 3.10%. M&T Bank’s dividend payout ratio is 41.67%.

Institutional Trading of M&T Bank

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of M&T Bank by 20.4% in the second quarter. State Street Corp now owns 8,629,986 shares of the financial services provider’s stock valued at $1,375,533,000 after purchasing an additional 1,460,870 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of M&T Bank by 90.1% in the second quarter. Wells Fargo & Company MN now owns 3,012,996 shares of the financial services provider’s stock valued at $480,241,000 after purchasing an additional 1,428,141 shares during the last quarter. M&T Bank Corp grew its position in shares of M&T Bank by 97.4% in the second quarter. M&T Bank Corp now owns 1,976,350 shares of the financial services provider’s stock valued at $307,359,000 after purchasing an additional 974,958 shares during the last quarter. Millennium Management LLC grew its position in shares of M&T Bank by 5,905.9% in the second quarter. Millennium Management LLC now owns 828,809 shares of the financial services provider’s stock valued at $132,104,000 after purchasing an additional 815,009 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of M&T Bank by 2,516.6% in the third quarter. Neuberger Berman Group LLC now owns 793,087 shares of the financial services provider’s stock valued at $139,841,000 after purchasing an additional 762,777 shares during the last quarter. Institutional investors own 84.10% of the company’s stock.

M&T Bank Company Profile

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.