Q3 2019 EPS Estimates for M&T Bank Co. Cut by Jefferies Financial Group (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) – Investment analysts at Jefferies Financial Group reduced their Q3 2019 earnings estimates for M&T Bank in a research report issued to clients and investors on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now forecasts that the financial services provider will earn $3.70 per share for the quarter, down from their previous forecast of $3.71. Jefferies Financial Group also issued estimates for M&T Bank’s Q4 2019 earnings at $3.78 EPS, FY2019 earnings at $14.60 EPS and FY2020 earnings at $14.75 EPS.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $2.23 EPS.

A number of other equities analysts also recently weighed in on MTB. Wedbush upped their price target on shares of Wintrust Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Zacks Investment Research downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Barclays set a $24.00 price target on shares of Tenet Healthcare and gave the stock a “hold” rating in a research note on Wednesday, April 17th. ValuEngine downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Gilead Sciences in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. M&T Bank presently has an average rating of “Hold” and an average target price of $178.08.

NYSE MTB opened at $174.07 on Thursday. M&T Bank has a 1-year low of $133.78 and a 1-year high of $180.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $23.40 billion, a P/E ratio of 13.54, a PEG ratio of 1.57 and a beta of 1.06. The stock has a fifty day moving average of $167.45.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, May 31st. M&T Bank’s dividend payout ratio is presently 31.10%.

In related news, CFO Darren J. King sold 1,841 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $162.95, for a total value of $299,990.95. Following the completion of the sale, the chief financial officer now directly owns 46,263 shares in the company, valued at $7,538,555.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Doris P. Meister sold 460 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $160.29, for a total transaction of $73,733.40. Following the completion of the sale, the insider now owns 1,553 shares of the company’s stock, valued at $248,930.37. The disclosure for this sale can be found here. Insiders sold 9,521 shares of company stock valued at $1,594,509 over the last quarter. 0.54% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of MTB. FMR LLC boosted its holdings in M&T Bank by 74.1% in the fourth quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock worth $851,195,000 after purchasing an additional 2,532,038 shares in the last quarter. Norges Bank bought a new stake in M&T Bank during the fourth quarter valued at about $174,207,000. PNC Financial Services Group Inc. boosted its holdings in M&T Bank by 404.6% during the first quarter. PNC Financial Services Group Inc. now owns 841,781 shares of the financial services provider’s stock valued at $132,174,000 after acquiring an additional 674,968 shares during the period. Hexavest Inc. bought a new stake in M&T Bank during the second quarter valued at about $35,588,000. Finally, Abacus Planning Group Inc. bought a new stake in M&T Bank during the fourth quarter valued at about $407,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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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