Here's What to Expect From M&T Bank's Next Earnings Report
New York-based M&T Bank Corporation (MTB) is the holding company for M&T Bank and Wilmington Trust and is worth at $31.2 billion by market cap. MTB is scheduled to release its fiscal 2024 Q4 earnings results before the market opens on Thursday, Jan. 16.
Ahead of the event, analysts expect M&T Bank to report a profit of $3.71 per share, up 32% from $2.81 per share in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in two of the last four quarters, missing on two occasions.
Looking ahead, analysts expect M&T Bank to report an EPS of $14.62 in fiscal 2024, down 9.1% from $16.08 in fiscal year 2023. However, its fiscal 2025 EPS is projected to rise 12.2% annually to $16.41.
Over the past 52 weeks, MTB’s stock has surged by 37.2%, surpassing the broader S&P 500 Index's ($SPX) 23.3% gains and the Financial Select Sector SPDR Fund’s (XLF) 28.5% returns during the same period.
M&T Bank's shares jumped 5% on Oct. 17 following the release of its Q3 earnings. The bank reported net operating EPS of $4.08, exceeding consensus estimates. The solid performance was fueled by growth in loans, leases, and non-interest income, including higher trust income and mortgage banking revenues.
The current consensus opinion on M&T Bank stock is “Moderate Buy” overall. Out of 19 analysts covering the stock, nine suggest a “Strong Buy,” one recommends a “Moderate Buy,” eight give it a “Hold,” and the remaining analyst advises a “Strong Sell.”
Furthermore, the average analyst price target for MTB is $229.87, indicating a potential upside of 22.3% from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. More news from Barchart