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.