M&T Bank Co. (NYSE:MTB) Expected to Post Quarterly Sales of $1.46 Billion


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Brokerages expect M&T Bank Co. (NYSE:MTB) to report $1.46 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for M&T Bank’s earnings. The highest sales estimate is $1.47 billion and the lowest is $1.45 billion. M&T Bank posted sales of $1.53 billion in the same quarter last year, which suggests a negative year over year growth rate of 4.6%. The firm is expected to announce its next earnings results before the market opens on Thursday, January 21st.

According to Zacks, analysts expect that M&T Bank will report full year sales of $5.88 billion for the current year, with estimates ranging from $5.87 billion to $5.90 billion. For the next financial year, analysts anticipate that the firm will report sales of $5.76 billion, with estimates ranging from $5.66 billion to $5.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for M&T Bank.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $2.77 EPS for the quarter, beating the Zacks’ consensus estimate of $2.63 by $0.14. M&T Bank had a net margin of 21.49% and a return on equity of 9.45%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $3.50 EPS.

MTB has been the topic of a number of recent analyst reports. Wolfe Research lowered shares of M&T Bank from a “market perform” rating to an “underperform” rating in a research report on Thursday, October 8th. Bank of America raised shares of M&T Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 7th. Barclays increased their price objective on shares of M&T Bank from $159.00 to $163.00 and gave the stock an “overweight” rating in a research report on Monday, January 4th. Morgan Stanley increased their price objective on shares of M&T Bank from $145.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of M&T Bank from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 6th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $131.80.

Shares of NYSE:MTB traded down $2.94 during trading on Wednesday, reaching $146.71. The company’s stock had a trading volume of 873,620 shares, compared to its average volume of 1,038,425. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. M&T Bank has a 12 month low of $85.09 and a 12 month high of $174.00. The firm’s 50 day simple moving average is $128.21 and its two-hundred day simple moving average is $109.86. The stock has a market capitalization of $18.82 billion, a PE ratio of 14.64 and a beta of 1.22.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, November 30th. M&T Bank’s dividend payout ratio (DPR) is presently 32.00%.

In related news, Director Denis J. Salamone sold 16,394 shares of M&T Bank stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $127.19, for a total transaction of $2,085,152.86. Following the transaction, the director now directly owns 71,776 shares of the company’s stock, valued at $9,129,189.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.58% of the company’s stock.

A number of hedge funds have recently modified their holdings of MTB. Charles Schwab Investment Management Inc. increased its holdings in M&T Bank by 151.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,533,768 shares of the financial services provider’s stock valued at $159,467,000 after buying an additional 923,381 shares during the period. Prudential PLC acquired a new stake in M&T Bank in the third quarter valued at approximately $71,922,000. BlackRock Inc. boosted its stake in M&T Bank by 4.3% in the third quarter. BlackRock Inc. now owns 10,765,343 shares of the financial services provider’s stock valued at $991,379,000 after acquiring an additional 440,050 shares in the last quarter. Holocene Advisors LP acquired a new stake in M&T Bank in the second quarter valued at approximately $31,687,000. Finally, State Street Corp boosted its stake in M&T Bank by 4.8% in the third quarter. State Street Corp now owns 6,527,766 shares of the financial services provider’s stock valued at $601,142,000 after acquiring an additional 297,979 shares in the last quarter. 75.94% of the stock is currently owned by institutional investors.

M&T Bank Company Profile

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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