Equities research analysts expect M&T Bank Corporation (NYSE:MTB) to report earnings of $2.39 per share for the current quarter, Zacks reports. Three analysts have made estimates for M&T Bank Corporation’s earnings, with the lowest EPS estimate coming in at $2.33 and the highest estimate coming in at $2.48. M&T Bank Corporation posted earnings per share of $2.13 during the same quarter last year, which suggests a positive year-over-year growth rate of 12.2%. The company is scheduled to announce its next earnings results on Wednesday, October 18th.
On average, analysts expect that M&T Bank Corporation will report full year earnings of $9.23 per share for the current year, with EPS estimates ranging from $9.00 to $9.45. For the next year, analysts forecast that the firm will post earnings of $9.92 per share, with EPS estimates ranging from $9.55 to $10.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for M&T Bank Corporation.
M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.08. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. M&T Bank Corporation had a return on equity of 9.48% and a net margin of 24.10%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 earnings per share.
MTB has been the subject of a number of recent research reports. BidaskClub raised M&T Bank Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research raised M&T Bank Corporation from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research report on Wednesday, May 3rd. Piper Jaffray Companies lowered their price target on M&T Bank Corporation from $157.00 to $153.00 and set a “neutral” rating for the company in a research report on Tuesday, April 11th. ValuEngine raised M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $168.00 price target on shares of M&T Bank Corporation in a research report on Tuesday, April 4th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $160.40.
In other M&T Bank Corporation news, insider Richard S. Gold sold 6,904 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the sale, the insider now directly owns 39,326 shares in the company, valued at approximately $6,398,733.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian E. Hickey sold 2,000 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total value of $324,040.00. Following the sale, the insider now owns 12,169 shares in the company, valued at $1,971,621.38. The disclosure for this sale can be found here. Company insiders own 3.18% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Speece Thorson Capital Group Inc. increased its stake in shares of M&T Bank Corporation by 0.5% in the second quarter. Speece Thorson Capital Group Inc. now owns 113,632 shares of the bank’s stock valued at $18,403,000 after buying an additional 550 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of M&T Bank Corporation by 2.9% in the second quarter. Janney Montgomery Scott LLC now owns 26,778 shares of the bank’s stock valued at $4,337,000 after buying an additional 758 shares in the last quarter. NGAM Advisors L.P. increased its stake in shares of M&T Bank Corporation by 0.4% in the second quarter. NGAM Advisors L.P. now owns 15,523 shares of the bank’s stock valued at $2,514,000 after buying an additional 57 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new stake in shares of M&T Bank Corporation during the second quarter valued at approximately $1,006,000. Finally, Russell Investments Group Ltd. increased its stake in shares of M&T Bank Corporation by 14.0% in the second quarter. Russell Investments Group Ltd. now owns 141,286 shares of the bank’s stock valued at $22,882,000 after buying an additional 17,303 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.
Shares of M&T Bank Corporation (MTB) traded up 0.99% during midday trading on Friday, hitting $160.59. The stock had a trading volume of 724,808 shares. The firm’s 50-day moving average price is $162.18 and its 200-day moving average price is $160.34. M&T Bank Corporation has a 1-year low of $111.82 and a 1-year high of $173.72. The stock has a market cap of $24.50 billion, a price-to-earnings ratio of 18.81 and a beta of 0.77.
M&T Bank Corporation announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $900.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 3.6% 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 firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 1st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $3.00 annualized dividend and a yield of 1.87%. M&T Bank Corporation’s dividend payout ratio is 35.09%.
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M&T Bank Corporation Company Profile
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.
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