FY2018 EPS Estimates for M&T Bank Co. Increased by Analyst (MTB)
M&T Bank Co. (NYSE:MTB) – Analysts at Jefferies Group upped their FY2018 EPS estimates for shares of M&T Bank in a report released on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will earn $11.60 per share for the year, up from their previous estimate of $10.00. Jefferies Group currently has a “Buy” rating and a $201.00 target price on the stock. Jefferies Group also issued estimates for M&T Bank’s FY2019 earnings at $12.40 EPS.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $168.00 price target for the company in a report on Tuesday, September 19th. ValuEngine upgraded M&T Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Vining Sparks reiterated a “buy” rating and set a $200.00 price target on shares of M&T Bank in a report on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $180.00 price target on shares of M&T Bank in a report on Thursday, December 14th. Finally, Wells Fargo & Co set a $180.00 price target on M&T Bank and gave the stock a “hold” rating in a report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $170.78.
Shares of M&T Bank (MTB) traded up $0.53 during mid-day trading on Wednesday, hitting $178.52. The stock had a trading volume of 439,557 shares, compared to its average volume of 488,784. M&T Bank has a one year low of $141.12 and a one year high of $179.49. The firm has a market capitalization of $26,870.00, a price-to-earnings ratio of 20.57, a PEG ratio of 1.85 and a beta of 0.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57.
M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm earned $2.10 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.68%. M&T Bank’s payout ratio is 34.56%.
In other M&T Bank news, VP Michele D. Trolli sold 9,730 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the completion of the transaction, the vice president now directly owns 24,708 shares in the company, valued at $4,148,226.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary N. Geisel sold 1,046 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $170.49, for a total value of $178,332.54. Following the transaction, the director now owns 17,586 shares of the company’s stock, valued at $2,998,237.14. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 141,000 shares of company stock valued at $11,600 and sold 32,128 shares valued at $5,474,208. Corporate insiders own 3.18% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its stake in M&T Bank by 5.7% during the second quarter. Capital Research Global Investors now owns 5,620,509 shares of the financial services provider’s stock worth $910,241,000 after acquiring an additional 302,511 shares in the last quarter. Capital World Investors raised its stake in M&T Bank by 5.1% during the second quarter. Capital World Investors now owns 4,129,000 shares of the financial services provider’s stock worth $668,692,000 after acquiring an additional 200,000 shares in the last quarter. California Public Employees Retirement System raised its stake in M&T Bank by 5.6% during the third quarter. California Public Employees Retirement System now owns 418,997 shares of the financial services provider’s stock worth $67,475,000 after acquiring an additional 22,223 shares in the last quarter. Prudential PLC raised its stake in M&T Bank by 21.4% during the second quarter. Prudential PLC now owns 338,310 shares of the financial services provider’s stock worth $54,789,000 after acquiring an additional 59,633 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in M&T Bank by 0.9% during the second quarter. Thrivent Financial For Lutherans now owns 336,566 shares of the financial services provider’s stock worth $54,507,000 after acquiring an additional 2,970 shares in the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.
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M&T Bank 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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