For its fourth fiscal quarter (ending December 31), M&T Bank Corp (NYSE: MTB) has reported a -36% decline in E.P.S. from $4.32 a year ago to $2.75 in the current quarter. This performance was $-0.92 short of the consensus estimate of $3.67. E.P.S. were $15.85 for the latest four quarters through December 31 versus $11.59 for the same period a year ago — an increase of 37%.
Recent Price Action
On 1/18/24, M&T Bank Corp (NYSE: MTB) stock increased 1.5%, closing at $132.88. Moreover, this advance was accompanied by exceptionally high trading volume at 234% of normal. Relative to the market the stock has been strong over the last nine months but has declined -2.7% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, MTB is expected to continue to be a Value Builder.
M&T Bank has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing complementary signals. M&T Bank has a slightly positive Power Rating of 70 and a very high Appreciation Score of 93, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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