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) – Investment analysts at DA Davidson decreased their Q1 2023 earnings per share estimates for shares of M&T Bank in a research note issued to investors on Tuesday, January 24th. DA Davidson analyst P. Winter now expects that the financial services provider will earn $4.02 per share for the quarter, down from their prior estimate 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 research analysts have also recently issued reports about the company. Piper Sandler dropped their price target on M&T Bank from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Citigroup lowered their target price on M&T Bank from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. TheStreet raised M&T Bank from a “c+” rating to a “b-” rating in a research report on Tuesday, September 27th. Odeon Capital Group raised M&T Bank from a “hold” rating to a “buy” rating and set a $171.76 target price for the company in a research report on Tuesday, January 10th. Finally, Barclays lowered M&T Bank from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $225.00 to $194.00 in a research report on Tuesday, January 3rd. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $182.32.

M&T Bank Stock Up 0.1 %

Shares of MTB opened at $154.94 on Wednesday. M&T Bank has a 52 week low of $138.43 and a 52 week high of $193.42. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.91. The stock has a fifty day moving average of $153.70 and a 200-day moving average of $168.52.

M&T Bank (NYSE:MTB – Get Rating) last announced 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 firm earned $3.37 earnings per share.

M&T Bank Dividend Announcement

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

Institutional Trading of M&T Bank

Several large investors have recently made changes to their positions in MTB. WASHINGTON TRUST Co grew its stake in shares of M&T Bank by 77.4% in the 2nd quarter. WASHINGTON TRUST Co now owns 188 shares of the financial services provider’s stock valued at $30,000 after buying an additional 82 shares during the period. SRS Capital Advisors Inc. grew its stake in shares of M&T Bank by 712.5% in the 2nd quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock valued at $31,000 after buying an additional 171 shares during the period. TCI Wealth Advisors Inc. grew its stake in shares of M&T Bank by 1,523.1% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 211 shares of the financial services provider’s stock valued at $34,000 after buying an additional 198 shares during the period. Ronald Blue Trust Inc. grew its stake in shares of M&T Bank by 148.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock valued at $35,000 after buying an additional 131 shares during the period. Finally, Affiance Financial LLC acquired a new stake in shares of M&T Bank in the 4th quarter valued at about $35,000. 84.10% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank

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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.