M&T Bank Corporation (NYSE:MTB) is set to announce its fourth-quarter earnings before the market opens on Friday, January 16. Analysts predict that the Buffalo-based financial institution will report earnings of $4.47 per share, an increase from $3.77 per share in the same quarter last year. The consensus estimate for quarterly revenue stands at $2.47 billion, compared to $2.38 billion in the previous year, according to data from Benzinga Pro.
On October 16, the bank reported third-quarter earnings that surpassed analyst expectations. Following this announcement, M&T Bank’s stock increased by 1.3%, closing at $212.57 on Thursday.
In recent evaluations, several analysts have adjusted their ratings on M&T Bank shares. Wolfe Research’s Steven Chubak downgraded the stock from Outperform to Peer Perform with an accuracy rate of 71%. Similarly, B of A Securities’ Ebrahim Poonawala downgraded it from Buy to Neutral, establishing a price target of $225, with a 70% accuracy rate. Evercore ISI Group’s John Pancari also downgraded the stock from Outperform to In-Line while raising the price target from $210 to $225, achieving a 67% accuracy rate. Conversely, Barclays analyst Jason Goldberg maintained an Equal-Weight rating, increasing the price target from $220 to $236, supported by a 62% accuracy rate. Keefe, Bruyette & Woods’ David Konrad upheld a Market Perform rating, raising the price target from $220 to $230, with an accuracy rate of 78%.
Why this story matters
Key takeaway
Opposing viewpoint
