Bank Earnings

M&T Bank Co. (NYSE:MTB) is expected to post earnings of $4.43 per share in the third quarter of 2022

M&T Bank Co. (NYSE:MTB – Get Rating) – Wedbush raised its third quarter 2022 earnings per share (EPS) estimate for M&T Bank in a note to investors on Thursday, July 21. Wedbush analyst P. Winter now expects the financial services provider to post earnings per share of $4.43 for the quarter, up from its previous forecast of $4.21. The consensus estimate for M&T Bank’s current annual earnings is $15.12 per share. Wedbush also released estimates for M&T Bank Q4 2022 earnings at $5.05 EPS, Q1 2023 earnings at $4.45 EPS, Q2 2023 earnings at $4.92 EPS, Q3 earnings at $4.92 EPS 2023 at $5.10 EPS and Q4 2023 earnings at $5.36 EPS.

Several other research analysts also commented on the company. Morgan Stanley raised its price target on M&T Bank from $203.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company lowered its price target on M&T Bank from $195.00 to $175.00 and set an “equal weight” rating for the company in a Friday, July 1 research report. JPMorgan Chase & Co. lowered its price target on M&T Bank from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Friday, July 1. Deutsche Bank Aktiengesellschaft raised its price target on M&T Bank from $180.00 to $200.00 in a Friday, March 25 research report. Finally, Citigroup lowered its price target on M&T Bank from $215.00 to $185.00 in a Tuesday, July 12 research report. Six research analysts gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $199.36.

M&T Bank trades up 2.2%

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M&T Bank shares opened at $169.22 on Friday. The company has a market capitalization of $30.36 billion, a price-earnings ratio of 15.73, a PEG ratio of 0.78 and a beta of 0.89. M&T Bank has a 12-month low of $128.46 and a 12-month high of $186.95. The company has a quick ratio of 1.05, a current ratio of 0.93 and a debt ratio of 0.13. The company has a 50-day moving average price of $166.08 and a 200-day moving average price of $171.05.

M&T Bank (NYSE:MTB – Get Rating) last released quarterly earnings data on Wednesday, July 20. The financial services provider reported earnings per share of $1.08 for the quarter, missing analyst consensus estimates of $2.75 per ($1.67). M&T Bank posted a net margin of 23.21% and a return on equity of 10.76%. During the same period a year earlier, the company posted EPS of $3.45.

Hedge funds weigh on M&T Bank

Several institutional investors and hedge funds have recently bought and sold shares of MTB. Yousif Capital Management LLC purchased a new stake in M&T Bank stock during the fourth quarter at a value of $3,343,000. Sciencast Management LP purchased a new equity stake in M&T Bank during the first quarter valued at $1,695,000. UMB Bank NA MO purchased a new equity stake in M&T Bank during the fourth quarter at a value of $49,000. Vestmark Advisory Solutions Inc. increased its holdings of M&T Bank shares by 15.1% in the first quarter. Vestmark Advisory Solutions Inc. now owns 10,727 shares of the financial services provider valued at $1,818,000 after buying an additional 1,409 shares in the last quarter. Finally, NuWave Investment Management LLC purchased a new equity stake in M&T Bank during the first quarter at a value of $47,000. 87.61% of the shares are held by hedge funds and other institutional investors.

Insider buying and selling

Separately, Executive Vice President Christopher E. Kay sold 2,200 shares of the company in a transaction that took place on Friday, June 3. The shares were sold at an average price of $178.83, for a total value of $393,426.00. Following the completion of the transaction, the executive vice president now owns 5,350 shares of the company, valued at $956,740.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Separately, Executive Vice President Robert J. Bojdak sold 525 shares of the company in a transaction that took place on Wednesday, June 8. The shares were sold at an average price of $177.82, for a total value of $93,355.50. Following the completion of the transaction, the executive vice president now owns 19,075 shares of the company, valued at $3,391,916.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, Executive Vice President Christopher E. Kay sold 2,200 shares of M&T Bank in a trade on Friday, June 3. The stock was sold at an average price of $178.83, for a total transaction of $393,426.00. Following the completion of the transaction, the executive vice president now directly owns 5,350 shares of the company, valued at $956,740.50. The disclosure of this sale can be found here. Insiders sold 7,725 shares of the company valued at $1,335,332 in the past 90 days. Company insiders hold 0.73% of the company’s shares.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 1 received a dividend of $1.20 per share. This represents an annualized dividend of $4.80 and a dividend yield of 2.84%. The ex-dividend date was Tuesday, May 31. M&T Bank’s dividend payout ratio is currently 44.61%.

About M&T Bank

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M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Earnings history and estimates for M&T Bank (NYSE:MTB)

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