Zacks: Analysts Anticipate M&T Bank Co. (MTB) Will Announce Quarterly Sales of $1.46 Billion

Brokerages predict that M&T Bank Co. (NYSE:MTB) will report sales of $1.46 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for M&T Bank’s earnings, with estimates ranging from $1.46 billion to $1.48 billion. M&T Bank reported sales of $1.40 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, July 18th.

On average, analysts expect that M&T Bank will report full year sales of $5.88 billion for the current year, with estimates ranging from $5.83 billion to $5.95 billion. For the next year, analysts forecast that the firm will post sales of $6.08 billion per share, with estimates ranging from $5.98 billion to $6.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow M&T Bank.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 16th. The financial services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.53). M&T Bank had a net margin of 23.12% and a return on equity of 10.91%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company earned $2.12 EPS.

Several brokerages recently weighed in on MTB. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Barclays raised their price objective on M&T Bank from $205.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. UBS Group downgraded M&T Bank from a “neutral” rating to a “sell” rating and set a $173.00 price objective for the company. in a research report on Tuesday, April 10th. Wedbush raised their price objective on M&T Bank from $190.00 to $193.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 17th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $190.00 price objective on shares of M&T Bank in a research report on Tuesday, April 17th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $179.50.

In related news, insider Sabeth Siddique sold 975 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The stock was sold at an average price of $182.52, for a total transaction of $177,957.00. Following the completion of the transaction, the insider now owns 2,759 shares in the company, valued at approximately $503,572.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Bojdak sold 1,570 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $177.93, for a total value of $279,350.10. Following the transaction, the insider now owns 20,501 shares of the company’s stock, valued at approximately $3,647,742.93. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of MTB. Private Capital Group LLC increased its holdings in M&T Bank by 728.4% during the 1st quarter. Private Capital Group LLC now owns 613 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 539 shares in the last quarter. Captrust Financial Advisors acquired a new stake in M&T Bank during the 4th quarter valued at $171,000. Calton & Associates Inc. acquired a new stake in M&T Bank during the 4th quarter valued at $178,000. NuWave Investment Management LLC acquired a new stake in M&T Bank during the 4th quarter valued at $197,000. Finally, Shelton Capital Management acquired a new stake in M&T Bank during the 4th quarter valued at $202,000. Institutional investors and hedge funds own 78.84% of the company’s stock.

NYSE:MTB traded up $0.31 during mid-day trading on Friday, hitting $174.71. 1,288,200 shares of the company’s stock traded hands, compared to its average volume of 712,342. M&T Bank has a 12 month low of $141.12 and a 12 month high of $197.37. The company has a market cap of $25.53 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.03 and a beta of 0.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.59.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Thursday, May 31st. This is an increase from M&T Bank’s previous quarterly dividend of $0.75. M&T Bank’s dividend payout ratio (DPR) is 34.22%.

M&T Bank declared that its board has approved a stock buyback program on Wednesday, February 21st that authorizes the company to buyback $745.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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

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