Equities analysts expect M&T Bank Co. (NYSE:MTB) to post $2.58 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for M&T Bank’s earnings, with estimates ranging from $2.04 to $3.01. M&T Bank posted earnings per share of $3.47 during the same quarter last year, which suggests a negative year-over-year growth rate of 25.6%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, October 22nd.
On average, analysts expect that M&T Bank will report full year earnings of $8.95 per share for the current financial year, with EPS estimates ranging from $7.82 to $9.80. For the next year, analysts forecast that the company will report earnings of $9.87 per share, with EPS estimates ranging from $7.50 to $12.17. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow M&T Bank.
M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11. M&T Bank had a return on equity of 10.22% and a net margin of 22.36%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business posted $3.37 EPS.
MTB has been the subject of several research analyst reports. Zacks Investment Research lowered M&T Bank from a “hold” rating to a “sell” rating and set a $108.00 price objective for the company. in a research report on Tuesday, September 1st. Royal Bank of Canada decreased their price objective on M&T Bank from $148.00 to $130.00 in a research report on Thursday, July 2nd. ValuEngine lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Morgan Stanley decreased their price objective on M&T Bank from $136.00 to $135.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Finally, Odeon Capital Group upgraded M&T Bank from a “sell” rating to a “hold” rating and set a $111.00 price objective for the company in a research report on Tuesday, September 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $137.39.
Shares of MTB opened at $104.24 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day simple moving average of $105.24 and a 200 day simple moving average of $106.96. M&T Bank has a 52-week low of $85.09 and a 52-week high of $174.00. The firm has a market capitalization of $13.37 billion, a PE ratio of 9.71, a P/E/G ratio of 4.04 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Monday, August 31st. M&T Bank’s dividend payout ratio is currently 32.00%.
In other news, EVP Doris P. Meister sold 885 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $101.35, for a total transaction of $89,694.75. Following the sale, the executive vice president now owns 904 shares in the company, valued at approximately $91,620.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.58% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management Inc. bought a new stake in M&T Bank in the 2nd quarter valued at $1,476,000. Neuberger Berman Group LLC increased its position in M&T Bank by 22.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 183,055 shares of the financial services provider’s stock worth $19,022,000 after buying an additional 33,352 shares during the period. Handelsbanken Fonder AB bought a new position in M&T Bank during the 2nd quarter worth $2,947,000. Charles Schwab Investment Management Inc. increased its position in M&T Bank by 151.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,533,768 shares of the financial services provider’s stock worth $159,467,000 after buying an additional 923,381 shares during the period. Finally, Rockbridge Investment Management LCC bought a new position in M&T Bank during the 2nd quarter worth $58,000. Institutional investors and hedge funds own 82.84% 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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