Equities analysts expect M&T Bank Co. (NYSE:MTB) to report $3.35 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for M&T Bank’s earnings, with the highest EPS estimate coming in at $3.47 and the lowest estimate coming in at $3.27. M&T Bank posted earnings per share of $2.24 during the same quarter last year, which would indicate a positive year-over-year growth rate of 49.6%. The business is expected to announce its next earnings results before the market opens on Wednesday, October 17th.
According to Zacks, analysts expect that M&T Bank will report full year earnings of $12.87 per share for the current fiscal year, with EPS estimates ranging from $12.74 to $13.13. For the next financial year, analysts forecast that the business will post earnings of $13.99 per share, with EPS estimates ranging from $13.45 to $14.90. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover M&T Bank.
M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.17 by $0.09. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. M&T Bank had a net margin of 24.57% and a return on equity of 11.80%. During the same quarter in the prior year, the business earned $2.35 earnings per share.
MTB has been the subject of several research reports. Goldman Sachs Group upgraded shares of M&T Bank from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 26th. Jefferies Financial Group restated a “buy” rating and set a $195.00 price target on shares of M&T Bank in a research report on Friday, July 13th. Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research report on Tuesday, June 19th. Morgan Stanley reduced their price target on shares of M&T Bank from $195.00 to $190.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 18th. Finally, ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $179.00.
In other M&T Bank news, Director Denis J. Salamone sold 25,209 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total transaction of $4,531,569.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Private Capital Group LLC lifted its holdings in shares of M&T Bank by 728.4% in the first quarter. Private Capital Group LLC now owns 613 shares of the financial services provider’s stock worth $113,000 after buying an additional 539 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of M&T Bank by 8,330.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 843 shares of the financial services provider’s stock worth $143,000 after buying an additional 833 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of M&T Bank in the second quarter worth about $171,000. Fisher Asset Management LLC purchased a new stake in shares of M&T Bank in the first quarter worth about $204,000. Finally, Lcnb Corp purchased a new stake in shares of M&T Bank in the second quarter worth about $214,000. 81.23% of the stock is currently owned by hedge funds and other institutional investors.
MTB opened at $170.09 on Friday. The stock has a market cap of $23.66 billion, a P/E ratio of 18.19, a P/E/G ratio of 0.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 1.06. M&T Bank has a fifty-two week low of $155.77 and a fifty-two week high of $197.37.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Tuesday, September 4th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Friday, August 31st. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s dividend payout ratio (DPR) is currently 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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