M&T Bank Analysts Boost Their Forecasts After Upbeat Earnings

M&T Bank Corporation MTB reported better-than-expected third-quarter financial results on Thursday.

M&T Bank reported quarterly earnings of $4.08 per share which beat the analyst consensus estimate of $3.64 per share. The company reported quarterly sales of $2.332 billion which beat the analyst consensus estimate of $2.318 billion.

M&T’s Chief Financial Officer said, “M&T’s positive earnings momentum, strong capital position and unyielding focus on delivering for our customers and the communities we serve have positioned the franchise for a strong finish to 2024. I am proud of how our employees have exhibited our core values as we execute on our strategic priorities.”

M&T Bank shares fell 0.5% to trade at $197.98 on Friday.

These analysts made changes to their price targets on M&T Bank following earnings announcement.

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RBC Capital analyst Gerard Cassidy maintained M&T Bank with an Outperform and raised the price target from $190 to $208.
Barclays analyst Jason Goldberg maintained the stock with an Equal-Weight and raised the price target from $170 to $228.
Goldman Sachs analyst Ryan Nash maintained M&T Bank with a Neutral and raised the price target from $190 to $216.

Considering buying MTB stock? Here’s what analysts think: