Research Analysts Offer Predictions for M&T Bank Co.’s Q3 2020 Earnings (NYSE:MTB)

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M&T Bank Co. (NYSE:MTB) – Investment analysts at Piper Sandler reduced their Q3 2020 earnings estimates for shares of M&T Bank in a research report issued to clients and investors on Monday, June 29th. Piper Sandler analyst F. Schiraldi now expects that the financial services provider will post earnings of $3.54 per share for the quarter, down from their prior estimate of $3.56. Piper Sandler also issued estimates for M&T Bank’s Q4 2020 earnings at $2.98 EPS.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 20th. The financial services provider reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.38. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. M&T Bank had a return on equity of 11.84% and a net margin of 24.99%. During the same period last year, the firm earned $3.35 EPS.

A number of other research firms have also recently commented on MTB. Deutsche Bank decreased their price target on M&T Bank from $185.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Cfra decreased their price target on M&T Bank from $176.00 to $109.00 and set a “hold” rating on the stock in a report on Tuesday, April 21st. UBS Group lifted their target price on M&T Bank from $98.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Wells Fargo & Co lifted their target price on M&T Bank from $120.00 to $135.00 in a report on Friday, June 5th. Finally, Citigroup reduced their target price on M&T Bank from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $143.73.

NYSE:MTB opened at $103.97 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.43. The business’s 50-day simple moving average is $105.34 and its two-hundred day simple moving average is $131.53. The stock has a market cap of $13.12 billion, a PE ratio of 8.43, a P/E/G ratio of 4.67 and a beta of 1.21. M&T Bank has a 52 week low of $85.09 and a 52 week high of $174.93.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were given a $1.10 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $4.40 annualized dividend and a yield of 4.23%. M&T Bank’s dividend payout ratio is currently 32.00%.

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $112.64, for a total transaction of $112,640.00. Following the completion of the transaction, the executive vice president now owns 1,789 shares in the company, valued at $201,512.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Several large investors have recently made changes to their positions in MTB. BDO Wealth Advisors LLC purchased a new position in shares of M&T Bank during the first quarter valued at approximately $43,000. Arlington Partners LLC bought a new stake in shares of M&T Bank during the first quarter valued at approximately $48,000. Signaturefd LLC raised its stake in shares of M&T Bank by 49.5% during the first quarter. Signaturefd LLC now owns 486 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 161 shares in the last quarter. New South Capital Management Inc. bought a new stake in shares of M&T Bank during the fourth quarter valued at approximately $66,000. Finally, Key Financial Inc bought a new stake in shares of M&T Bank during the first quarter valued at approximately $70,000. Institutional investors and hedge funds own 83.11% of the company’s stock.

About M&T Bank

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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