Analysts Offer Predictions for M&T Bank Co.’s Q1 2018 Earnings (MTB)

M&T Bank Co. (NYSE:MTB) – Piper Jaffray boosted their Q1 2018 earnings per share estimates for M&T Bank in a report released on Friday, April 6th. Piper Jaffray analyst K. Barker now forecasts that the financial services provider will post earnings per share of $2.68 for the quarter, up from their previous estimate of $2.66. Piper Jaffray has a “Neutral” rating on the stock. Piper Jaffray also issued estimates for M&T Bank’s Q2 2018 earnings at $3.06 EPS, Q3 2018 earnings at $3.17 EPS, Q4 2018 earnings at $3.21 EPS, FY2018 earnings at $12.13 EPS, Q1 2019 earnings at $2.91 EPS, Q2 2019 earnings at $3.28 EPS, Q3 2019 earnings at $3.32 EPS, Q4 2019 earnings at $3.38 EPS and FY2019 earnings at $12.89 EPS.

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M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.26. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. M&T Bank’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 EPS.

A number of other research firms have also commented on MTB. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Barclays upped their target price on M&T Bank from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Royal Bank of Canada reiterated a “buy” rating on shares of M&T Bank in a report on Friday, January 19th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of M&T Bank in a report on Tuesday, February 6th. Finally, Wedbush reiterated a “neutral” rating and set a $186.00 target price (up previously from $180.00) on shares of M&T Bank in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $175.47.

MTB opened at $181.69 on Monday. The company has a market cap of $27,285.66, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.05 and a quick ratio of 1.05. M&T Bank has a one year low of $141.12 and a one year high of $197.37.

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in M&T Bank by 2.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,629,132 shares of the financial services provider’s stock valued at $278,566,000 after purchasing an additional 36,935 shares during the last quarter. Geode Capital Management LLC boosted its stake in M&T Bank by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,605,152 shares of the financial services provider’s stock valued at $273,904,000 after purchasing an additional 22,149 shares during the last quarter. American Century Companies Inc. boosted its stake in M&T Bank by 2.8% during the 4th quarter. American Century Companies Inc. now owns 1,584,086 shares of the financial services provider’s stock valued at $270,863,000 after purchasing an additional 42,852 shares during the last quarter. Millennium Management LLC boosted its stake in M&T Bank by 1,688.7% during the 4th quarter. Millennium Management LLC now owns 1,025,822 shares of the financial services provider’s stock valued at $175,405,000 after purchasing an additional 968,471 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in M&T Bank by 4.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 514,981 shares of the financial services provider’s stock valued at $88,057,000 after purchasing an additional 20,275 shares during the last quarter. Institutional investors own 77.62% of the company’s stock.

In related news, insider Robert J. Bojdak sold 1,062 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $195.17, for a total value of $207,270.54. Following the sale, the insider now owns 22,071 shares in the company, valued at approximately $4,307,597.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Todaro sold 672 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $188.56, for a total value of $126,712.32. Following the completion of the sale, the insider now owns 814 shares in the company, valued at approximately $153,487.84. The disclosure for this sale can be found here. Insiders sold a total of 72,091 shares of company stock worth $13,594,655 in the last 90 days. 0.48% of the stock is currently owned by company insiders.

M&T Bank announced that its Board of Directors has approved a stock repurchase plan on Monday, February 5th that allows the company to buyback $745.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Monday, March 5th were paid a $0.75 dividend. The ex-dividend date was Friday, March 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.65%. M&T Bank’s payout ratio is currently 32.09%.

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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.

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

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