$3.57 Earnings Per Share Expected for M&T Bank Co. (NYSE:MTB) This Quarter


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Wall Street brokerages predict that M&T Bank Co. (NYSE:MTB) will announce $3.57 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for M&T Bank’s earnings, with estimates ranging from $3.09 to $4.04. M&T Bank posted earnings of $1.76 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 102.8%. The business is expected to announce its next quarterly earnings results on Thursday, July 22nd.

According to Zacks, 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 expect that the firm will report earnings of $12.54 per share, with EPS estimates ranging from $12.16 to $12.86. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for M&T Bank.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Sunday, April 18th. The financial services provider reported $3.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 period in the previous year, the company earned $1.93 earnings per share.

Several brokerages have recently commented on MTB. Royal Bank of Canada increased their price objective on M&T Bank from $150.00 to $166.00 and gave the company an “outperform” rating in a report on Monday, March 1st. Barclays boosted their target price on M&T Bank from $163.00 to $167.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of M&T Bank from $161.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, April 1st. Bank of America upgraded shares of M&T Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 7th. Finally, Jefferies Financial Group restated a “hold” rating on shares of M&T Bank in a research note on Monday, April 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $149.56.

In related news, EVP Michele D. Trolli sold 4,967 shares of the firm’s stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $155.74, for a total value of $773,560.58. Following the completion of the transaction, the executive vice president now directly owns 10,622 shares of the company’s stock, valued at $1,654,270.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its position in M&T Bank by 59.1% during the fourth quarter. FMR LLC now owns 10,405,669 shares of the financial services provider’s stock worth $1,324,642,000 after purchasing an additional 3,866,610 shares during the period. Principal Financial Group Inc. grew its stake in M&T Bank by 109.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,780,883 shares of the financial services provider’s stock valued at $226,706,000 after purchasing an additional 930,426 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of M&T Bank by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,681,538 shares of the financial services provider’s stock worth $214,061,000 after acquiring an additional 44,029 shares during the period. Wells Fargo & Company MN boosted its stake in M&T Bank by 3.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,492,778 shares of the financial services provider’s stock worth $190,031,000 after purchasing an additional 43,301 shares during the period. Finally, Norges Bank purchased a new stake in shares of M&T Bank in the 4th quarter valued at about $174,481,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

MTB stock traded down $1.24 during midday 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 debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50 day moving average of $153.69 and a 200-day moving average of $136.22. M&T Bank has a 52-week low of $85.09 and a 52-week high of $164.72. The firm has a market capitalization of $20.10 billion, a price-to-earnings ratio of 15.72 and a beta of 1.23.

M&T Bank declared that its board has authorized a stock repurchase plan on Wednesday, January 20th that permits the company to repurchase $800.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 1st were paid a $1.10 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $4.40 annualized dividend and a dividend yield of 2.82%. M&T Bank’s dividend payout ratio is presently 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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