Wall Street brokerages expect M&T Bank Corporation (NYSE:MTB) to report $1.42 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for M&T Bank Corporation’s earnings, with the lowest sales estimate coming in at $1.39 billion and the highest estimate coming in at $1.46 billion. M&T Bank Corporation posted sales of $1.31 billion during the same quarter last year, which suggests a positive year over year growth rate of 8.4%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, July 19th.

On average, analysts expect that M&T Bank Corporation will report full-year sales of $1.42 billion for the current year, with estimates ranging from $5.62 billion to $5.72 billion. For the next fiscal year, analysts expect that the firm will report sales of $5.94 billion per share, with estimates ranging from $5.84 billion to $6.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover M&T Bank Corporation.

M&T Bank Corporation (NYSE:MTB) last released its quarterly earnings results on Monday, April 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.18. M&T Bank Corporation had a return on equity of 9.22% and a net margin of 23.62%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $1.87 earnings per share.

MTB has been the subject of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $174.00 price target on shares of M&T Bank Corporation in a report on Monday, May 15th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $168.00 price target on shares of M&T Bank Corporation in a report on Tuesday, April 4th. ValuEngine raised M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research cut M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $152.00 price target on shares of M&T Bank Corporation in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the stock. M&T Bank Corporation currently has a consensus rating of “Hold” and a consensus price target of $153.94.

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M&T Bank Corporation (NYSE:MTB) traded up 0.979% on Friday, hitting $165.191. The stock had a trading volume of 202,182 shares. The firm has a market cap of $25.42 billion, a P/E ratio of 20.222 and a beta of 0.77. M&T Bank Corporation has a 1-year low of $111.13 and a 1-year high of $173.72. The firm’s 50-day moving average price is $159.70 and its 200-day moving average price is $159.31.

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 1st were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.83%. M&T Bank Corporation’s dividend payout ratio (DPR) is 36.67%.

In other news, insider Richard S. Gold sold 6,904 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $162.71, for a total value of $1,123,349.84. Following the sale, the insider now directly owns 39,326 shares in the company, valued at $6,398,733.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian E. Hickey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total value of $324,040.00. Following the completion of the sale, the insider now owns 12,169 shares in the company, valued at $1,971,621.38. The disclosure for this sale can be found here. Insiders own 3.18% of the company’s stock.

Several hedge funds have recently modified their holdings of MTB. Capstone Asset Management Co. raised its stake in shares of M&T Bank Corporation by 1.2% in the first quarter. Capstone Asset Management Co. now owns 12,489 shares of the bank’s stock worth $1,932,000 after buying an additional 154 shares during the period. Bank of Montreal Can raised its stake in shares of M&T Bank Corporation by 28.5% in the first quarter. Bank of Montreal Can now owns 380,770 shares of the bank’s stock worth $58,918,000 after buying an additional 84,364 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of M&T Bank Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 44,422 shares of the bank’s stock worth $6,873,000 after buying an additional 470 shares during the period. Creative Planning raised its stake in shares of M&T Bank Corporation by 0.7% in the first quarter. Creative Planning now owns 10,812 shares of the bank’s stock worth $1,673,000 after buying an additional 74 shares during the period. Finally, Confluence Investment Management LLC raised its stake in shares of M&T Bank Corporation by 4.2% in the first quarter. Confluence Investment Management LLC now owns 91,995 shares of the bank’s stock worth $14,234,000 after buying an additional 3,715 shares during the period. Institutional investors own 79.24% of the company’s stock.

M&T Bank Corporation 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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Earnings History and Estimates for M&T Bank Corporation (NYSE:MTB)

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