M&T Bank Co. (NYSE:MTB) Expected to Post Earnings of $3.06 Per Share

Equities research analysts expect M&T Bank Co. (NYSE:MTB) to announce earnings of $3.06 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for M&T Bank’s earnings. The lowest EPS estimate is $2.99 and the highest is $3.14. M&T Bank posted earnings of $3.38 per share during the same quarter last year, which would indicate a negative year over year growth rate of 9.5%. The company is scheduled to issue its next quarterly earnings report on Monday, April 20th.

On average, analysts expect that M&T Bank will report full-year earnings of $13.79 per share for the current fiscal year, with EPS estimates ranging from $13.12 to $14.64. For the next year, analysts forecast that the business will report earnings of $14.60 per share, with EPS estimates ranging from $13.97 to $14.96. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow M&T Bank.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $3.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.47 by $0.13. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. M&T Bank had a net margin of 27.79% and a return on equity of 13.38%. During the same period in the previous year, the firm posted $3.79 earnings per share.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of M&T Bank from $172.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday, January 18th. Keefe, Bruyette & Woods downgraded shares of M&T Bank from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $168.00 to $160.00 in a research note on Friday, October 18th. Deutsche Bank raised shares of M&T Bank from a “hold” rating to a “buy” rating in a research note on Monday, January 6th. Finally, Odeon Capital Group raised shares of M&T Bank from a “hold” rating to a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $171.50.

In other M&T Bank news, Director Denis J. Salamone sold 15,755 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $167.50, for a total value of $2,638,962.50. Following the completion of the sale, the director now owns 90,293 shares of the company’s stock, valued at $15,124,077.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Darren J. King sold 3,968 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $162.59, for a total transaction of $645,157.12. Following the completion of the sale, the chief financial officer now directly owns 42,295 shares of the company’s stock, valued at approximately $6,876,744.05. The disclosure for this sale can be found here. Insiders sold 23,816 shares of company stock valued at $3,977,597 in the last ninety days. Insiders own 0.54% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MTB. Usca Ria LLC bought a new position in M&T Bank during the third quarter valued at about $25,000. North Star Investment Management Corp. bought a new position in shares of M&T Bank during the 3rd quarter worth $32,000. Thor Advisors LLC bought a new position in shares of M&T Bank during the 3rd quarter worth $34,000. HM Payson & Co. bought a new position in shares of M&T Bank during the 2nd quarter worth $51,000. Finally, CSat Investment Advisory L.P. grew its position in shares of M&T Bank by 305.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 304 shares of the financial services provider’s stock worth $52,000 after buying an additional 229 shares in the last quarter. Institutional investors own 81.55% of the company’s stock.

Shares of MTB traded up $1.12 on Friday, reaching $171.49. 1,282,245 shares of the company’s stock were exchanged, compared to its average volume of 527,452. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $22.48 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The business has a 50 day moving average price of $167.66 and a two-hundred day moving average price of $160.39. M&T Bank has a 12 month low of $141.50 and a 12 month high of $176.11.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, November 29th. This is an increase from M&T Bank’s previous quarterly dividend of $1.00. M&T Bank’s dividend payout ratio is presently 32.00%.

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 banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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Earnings History and Estimates for M&T Bank (NYSE:MTB)

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