M&T Bank Set to Release Earnings Amid Positive Stock Trends

New York-based M&T Bank Corporation (MTB) is the holding company for M&T Bank and Wilmington Trust, valued at $31.2 billion by market cap. The company will announce its fiscal 2024 Q4 earnings before markets open on Thursday, January 16.

Analysts Predict Strong Earnings Growth for Q4

Before the earnings release, analysts project M&T Bank to report a profit of $3.71 per share, a notable increase of 32% from $2.81 per share in the same quarter last year. In the past year, the company has surpassed Wall Street’s earnings per share (EPS) estimates in two of the last four quarters, while falling short in two others.

Future Outlook for Earnings

Looking forward, analysts expect M&T Bank to report an EPS of $14.62 for fiscal 2024—a decrease of 9.1% from $16.08 in fiscal 2023. However, projections for fiscal 2025 suggest a rebound, with EPS expected to rise 12.2% annually to $16.41.

Stock Performance Outshines Major Indices

Over the past 52 weeks, MTB’s stock has risen by 37.2%, significantly outperforming the S&P 500 Index, which gained 23.3%, and the Financial Select Sector SPDR Fund (XLF), which posted a 28.5% increase during the same timeframe.

Please Note: Recent Earnings Boost Confidence

M&T Bank’s shares rose 5% on October 17 following the release of its Q3 earnings report. The bank achieved a net operating EPS of $4.08, surpassing analysts’ estimates. This solid performance stemmed from growth in loans, leases, and non-interest income, including increased trust income and revenues from mortgage banking.

Analysts Favorable on M&T Bank Stock

The consensus rating for M&T Bank’s stock remains “Moderate Buy.” Out of 19 analysts, nine advocate for a “Strong Buy,” one opts for a “Moderate Buy,” eight recommend a “Hold,” and one analyst suggests a “Strong Sell.”

The average target price set by analysts for MTB is $229.87, suggesting a potential upside of 22.3% based on current price levels.

On the date of publication,

Kritika Sarmah

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