M&T Bank Co. (NYSE:MTB) – Equities researchers at Jefferies Group reduced their FY2017 earnings estimates for M&T Bank in a research report issued on Tuesday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $9.09 for the year, down from their prior estimate of $9.11. Jefferies Group currently has a “Buy” rating and a $201.00 price objective on the stock.
M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by ($0.19). M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business earned $2.10 earnings per share.
Shares of M&T Bank (MTB) opened at $178.52 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57. M&T Bank has a 1-year low of $141.12 and a 1-year high of $179.49. The company has a market cap of $26,870.00, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Thursday, November 30th. M&T Bank’s dividend payout ratio is 34.56%.
In related news, VP Michele D. Trolli sold 9,730 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the completion of the sale, the vice president now owns 24,708 shares of the company’s stock, valued at $4,148,226.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael R. Spychala sold 13,417 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $170.92, for a total transaction of $2,293,233.64. Following the sale, the vice president now directly owns 51,622 shares of the company’s stock, valued at approximately $8,823,232.24. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 141,000 shares of company stock valued at $11,600 and have sold 32,128 shares valued at $5,474,208. 3.18% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC increased its position in shares of M&T Bank by 8,576.9% during the second quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 1,115 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of M&T Bank during the third quarter valued at approximately $206,000. Columbia Asset Management bought a new stake in shares of M&T Bank during the third quarter valued at approximately $212,000. Virtu Financial LLC bought a new stake in shares of M&T Bank during the third quarter valued at approximately $213,000. Finally, Janney Capital Management LLC bought a new stake in shares of M&T Bank during the third quarter valued at approximately $231,000. 77.73% of the stock is owned by institutional investors.
About M&T Bank
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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