Brokerages Anticipate M&T Bank Co. (NYSE:MTB) Will Post Quarterly Sales of $1.46 Billion

Analysts expect M&T Bank Co. (NYSE:MTB) to report $1.46 billion in sales for the current quarter, according to Zacks. Two analysts have issued estimates for M&T Bank’s earnings, with the lowest sales estimate coming in at $1.45 billion and the highest estimate coming in at $1.46 billion. M&T Bank also posted sales of $1.46 billion in the same quarter last year. The business is scheduled to announce its next earnings report on Thursday, October 28th.

On average, analysts expect that M&T Bank will report full-year sales of $6.23 billion for the current year, with estimates ranging from $5.86 billion to $6.39 billion. For the next fiscal year, analysts anticipate that the company will post sales of $7.69 billion, with estimates ranging from $7.56 billion to $7.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover M&T Bank.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $3.41 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.29). M&T Bank had a return on equity of 11.70% and a net margin of 28.58%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share.

Several equities analysts recently issued reports on the company. Wedbush lowered their price target on M&T Bank from $171.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday, July 22nd. Citigroup assumed coverage on M&T Bank in a research note on Friday, July 16th. They set a “hold” rating and a $141.19 price target on the stock. Morgan Stanley lowered their price target on M&T Bank from $180.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Monday, August 2nd. Keefe, Bruyette & Woods upgraded M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 7th. Finally, Odeon Capital Group raised M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 price objective on the stock in a report on Monday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $158.76.

Several institutional investors and hedge funds have recently made changes to their positions in MTB. Amundi acquired a new position in shares of M&T Bank in the 2nd quarter worth approximately $158,533,000. Select Equity Group L.P. acquired a new position in shares of M&T Bank in the 1st quarter worth approximately $154,892,000. Amundi Asset Management US Inc. boosted its holdings in shares of M&T Bank by 131.8% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,189,344 shares of the financial services provider’s stock worth $180,318,000 after acquiring an additional 676,212 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in M&T Bank by 11.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,709,328 shares of the financial services provider’s stock worth $684,313,000 after buying an additional 472,226 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd acquired a new position in M&T Bank during the 2nd quarter worth $34,948,235,000. 85.09% of the stock is currently owned by institutional investors and hedge funds.

MTB traded up $0.04 on Monday, hitting $137.55. 1,693,972 shares of the stock traded hands, compared to its average volume of 906,723. M&T Bank has a 52 week low of $88.48 and a 52 week high of $168.27. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $17.70 billion, a PE ratio of 10.57 and a beta of 1.20. The business has a fifty day moving average price of $137.19 and a two-hundred day moving average price of $148.56.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 1st will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, August 31st. M&T Bank’s payout ratio is currently 43.91%.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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

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