M&T Bank Co. (NYSE:MTB) Expected to Post Earnings of $3.57 Per Share

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Equities analysts predict that M&T Bank Co. (NYSE:MTB) will post $3.57 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for M&T Bank’s earnings. The lowest EPS estimate is $3.09 and the highest is $4.04. M&T Bank posted earnings per share of $1.76 in the same quarter last year, which would suggest a positive year over year growth rate of 102.8%. The firm is expected to issue its next quarterly earnings results on Thursday, July 22nd.

On average, analysts expect that M&T Bank will report full-year earnings of $13.05 per share for the current year, with EPS estimates ranging from $11.20 to $14.54. For the next year, analysts forecast that the business will report earnings of $12.54 per share, with EPS estimates ranging from $12.16 to $12.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover M&T Bank.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Sunday, April 18th. The financial services provider reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.33. M&T Bank had a return on equity of 9.45% and a net margin of 21.49%. During the same quarter in the prior year, the firm posted $1.93 EPS.

MTB has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price target on shares of M&T Bank from $150.00 to $166.00 and gave the stock an “outperform” rating in a research report on Monday, March 1st. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $163.00 price objective on the stock in a research report on Tuesday, April 27th. Morgan Stanley increased their price target on shares of M&T Bank from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. Barclays increased their price target on shares of M&T Bank from $163.00 to $167.00 and gave the company an “overweight” rating in a report on Wednesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of M&T Bank from $161.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $149.56.

In related news, EVP Michele D. Trolli sold 4,967 shares of the stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $155.74, for a total value of $773,560.58. Following the sale, the executive vice president now owns 10,622 shares in the company, valued at approximately $1,654,270.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rocky Mountain Advisers LLC grew its holdings in M&T Bank by 1,438.5% in the 4th quarter. Rocky Mountain Advisers LLC now owns 200 shares of the financial services provider’s stock valued at $25,000 after buying an additional 187 shares in the last quarter. Vantage Consulting Group Inc acquired a new position in M&T Bank in the 4th quarter valued at $26,000. Barrett Asset Management LLC grew its holdings in shares of M&T Bank by 92.0% during the 4th quarter. Barrett Asset Management LLC now owns 240 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 115 shares in the last quarter. Signaturefd LLC raised its position in M&T Bank by 78.6% in the fourth quarter. Signaturefd LLC now owns 259 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 114 shares during the last quarter. Finally, Annapolis Financial Services LLC bought a new position in M&T Bank in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

MTB traded down $1.24 during mid-day trading on Thursday, reaching $156.26. 4,909 shares of the company traded hands, compared to its average volume of 934,349. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $20.10 billion, a P/E ratio of 15.72 and a beta of 1.23. M&T Bank has a 52-week low of $85.09 and a 52-week high of $164.72. The company’s fifty day moving average price is $153.69 and its 200-day moving average price is $136.22.

M&T Bank announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 20th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 1st were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Friday, February 26th. M&T Bank’s dividend payout ratio is currently 32.00%.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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

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