Brokerages expect M&T Bank Co. (NYSE:MTB) to report earnings per share (EPS) of $3.35 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for M&T Bank’s earnings, with estimates ranging from $3.27 to $3.47. M&T Bank posted earnings per share of $2.24 during the same quarter last year, which suggests a positive year over year growth rate of 49.6%. The business is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, October 17th.
On average, analysts expect that M&T Bank will report full year earnings of $12.90 per share for the current year, with EPS estimates ranging from $12.74 to $13.13. For the next year, analysts forecast that the company will report earnings of $14.03 per share, with EPS estimates ranging from $13.45 to $14.90. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover M&T Bank.
M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 EPS for the quarter, topping the consensus estimate of $3.17 by $0.09. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. During the same quarter in the previous year, the company posted $2.35 earnings per share.
A number of research analysts have recently issued reports on MTB shares. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a report on Tuesday, June 19th. Sanford C. Bernstein raised M&T Bank from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 27th. They noted that the move was a valuation call. ValuEngine lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, July 6th. Jefferies Financial Group reissued a “buy” rating and issued a $195.00 target price on shares of M&T Bank in a report on Friday, July 13th. Finally, Wedbush boosted their target price on M&T Bank from $190.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, July 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $181.08.
In other news, Director Denis J. Salamone sold 25,209 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total value of $4,531,569.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Berkshire Asset Management LLC PA grew its holdings in M&T Bank by 6.1% during the third quarter. Berkshire Asset Management LLC PA now owns 154,179 shares of the financial services provider’s stock worth $25,369,000 after acquiring an additional 8,836 shares during the period. Bank of Montreal Can grew its holdings in M&T Bank by 4.4% during the third quarter. Bank of Montreal Can now owns 511,291 shares of the financial services provider’s stock worth $84,129,000 after acquiring an additional 21,690 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its holdings in M&T Bank by 241.1% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 5,441 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 3,846 shares during the period. DNB Asset Management AS grew its holdings in M&T Bank by 18.1% during the third quarter. DNB Asset Management AS now owns 45,268 shares of the financial services provider’s stock worth $7,448,000 after acquiring an additional 6,926 shares during the period. Finally, NEXT Financial Group Inc acquired a new position in M&T Bank during the third quarter worth $165,000. 81.23% of the stock is currently owned by hedge funds and other institutional investors.
MTB traded down $1.93 during trading on Friday, hitting $158.52. 1,086,695 shares of the stock were exchanged, compared to its average volume of 804,754. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.89 and a beta of 0.95. M&T Bank has a 1-year low of $155.36 and a 1-year high of $197.37. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.58.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th were issued a $1.00 dividend. The ex-dividend date was Friday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s payout ratio is presently 42.78%.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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