Zacks: Brokerages Anticipate M&T Bank Corporation (MTB) to Announce $2.40 Earnings Per Share
Equities analysts expect M&T Bank Corporation (NYSE:MTB) to post $2.40 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for M&T Bank’s earnings. The highest EPS estimate is $2.47 and the lowest is $2.33. M&T Bank posted earnings per share of $2.01 during the same quarter last year, which indicates a positive year over year growth rate of 19.4%. The firm is expected to announce its next quarterly earnings report on Thursday, January 18th.
According to Zacks, analysts expect that M&T Bank will report full year earnings of $9.10 per share for the current year, with EPS estimates ranging from $9.06 to $9.15. For the next fiscal year, analysts anticipate that the business will report earnings of $9.91 per share, with EPS estimates ranging from $9.66 to $10.29. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for M&T Bank.
M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. During the same quarter in the previous year, the company earned $2.10 EPS.
MTB has been the subject of several research analyst reports. Macquarie cut M&T Bank from a “neutral” rating to an “underperform” rating in a research report on Friday, August 4th. BidaskClub cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Sanford C. Bernstein reiterated a “market perform” rating and set a $165.00 target price (down previously from $171.00) on shares of M&T Bank in a research report on Saturday, September 16th. Nomura increased their target price on M&T Bank from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Finally, ValuEngine upgraded M&T Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $162.56.
M&T Bank (NYSE MTB) traded up $0.52 during trading hours on Friday, hitting $169.47. The company had a trading volume of 699,563 shares, compared to its average volume of 749,000. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. M&T Bank has a 12-month low of $141.12 and a 12-month high of $173.72. The stock has a market capitalization of $25,510.00, a PE ratio of 18.72, a P/E/G ratio of 2.00 and a beta of 0.85.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, November 30th. M&T Bank’s payout ratio is presently 34.56%.
In related news, insider Sabeth Siddique sold 950 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $147.17, for a total transaction of $139,811.50. Following the completion of the transaction, the insider now directly owns 1,488 shares of the company’s stock, valued at $218,988.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michele D. Trolli sold 9,730 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $167.89, for a total value of $1,633,569.70. Following the transaction, the vice president now directly owns 24,708 shares of the company’s stock, valued at $4,148,226.12. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 671,000 shares of company stock valued at $55,870 and have sold 1,690,680 shares valued at $1,903,281. 3.18% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in MTB. Dupont Capital Management Corp bought a new position in M&T Bank during the second quarter valued at approximately $140,000. QCI Asset Management Inc. NY lifted its stake in shares of M&T Bank by 0.3% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 3 shares during the last quarter. Sun Life Financial INC lifted its stake in shares of M&T Bank by 8,576.9% in the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 1,115 shares during the last quarter. Mosaic Family Wealth LLC lifted its stake in shares of M&T Bank by 5.3% in the 2nd quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 62 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $206,000. 79.29% of the stock is owned by institutional investors.
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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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