Q4 2017 Earnings Forecast for M&T Bank Co. (MTB) Issued By Jefferies Group
M&T Bank Co. (NYSE:MTB) – Jefferies Group decreased their Q4 2017 earnings estimates for shares of M&T Bank in a report issued on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $2.41 for the quarter, down from their previous estimate of $2.43. Jefferies Group has a “Buy” rating and a $201.00 price objective on the stock.
M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business posted $2.10 earnings per share.
A number of other research analysts also recently issued reports on MTB. Vining Sparks restated a “buy” rating and issued a $200.00 price target on shares of M&T Bank in a research report on Monday. Instinet restated a “neutral” rating and issued a $145.00 price target (up from $144.00) on shares of M&T Bank in a research report on Saturday, September 30th. Barclays raised their price target on shares of M&T Bank from $175.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. ValuEngine upgraded shares of M&T Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Nomura raised their price target on shares of M&T Bank from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. 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. M&T Bank presently has an average rating of “Hold” and an average target price of $170.78.
M&T Bank (NYSE MTB) opened at $172.42 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. M&T Bank has a 52-week low of $141.12 and a 52-week high of $176.71. The stock has a market cap of $25,950.00, a PE ratio of 19.86, a PEG ratio of 1.85 and a beta of 0.84.
A number of institutional investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC increased its stake in M&T Bank by 1.3% during the 4th quarter. Confluence Investment Management LLC now owns 99,170 shares of the financial services provider’s stock valued at $16,957,000 after buying an additional 1,260 shares during the period. Renaissance Investment Group LLC increased its stake in M&T Bank by 10.6% during the 4th quarter. Renaissance Investment Group LLC now owns 19,175 shares of the financial services provider’s stock valued at $3,279,000 after buying an additional 1,840 shares during the period. Parametric Portfolio Associates LLC increased its stake in M&T Bank by 2.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 279,187 shares of the financial services provider’s stock valued at $44,960,000 after buying an additional 7,568 shares during the period. California Public Employees Retirement System increased its stake in M&T Bank by 5.6% during the 3rd quarter. California Public Employees Retirement System now owns 418,997 shares of the financial services provider’s stock valued at $67,475,000 after buying an additional 22,223 shares during the period. Finally, Virtu Financial LLC acquired a new position in M&T Bank during the 3rd quarter valued at about $213,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Michele D. Trolli sold 9,730 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $167.89, for a total value of $1,633,569.70. Following the sale, the vice president now owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael R. Spychala sold 13,417 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $170.92, for a total transaction of $2,293,233.64. Following the completion of the sale, the vice president now directly owns 51,622 shares in the company, valued at approximately $8,823,232.24. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 176,000 shares of company stock worth $14,050 and sold 32,128 shares worth $5,474,208. 3.18% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 1st were issued 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 1.74%. M&T Bank’s dividend payout ratio (DPR) is presently 34.56%.
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About M&T Bank
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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