Analysts predict that M&T Bank Corporation (NYSE:MTB) will announce earnings per share of $2.39 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for M&T Bank Corporation’s earnings, with the highest EPS estimate coming in at $2.46 and the lowest estimate coming in at $2.34. M&T Bank Corporation reported earnings per share of $2.13 in the same quarter last year, which suggests a positive year over year growth rate of 12.2%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, October 18th.

According to Zacks, analysts expect that M&T Bank Corporation will report full year earnings of $9.31 per share for the current financial year, with EPS estimates ranging from $9.26 to $9.41. For the next fiscal year, analysts forecast that the business will report earnings of $9.91 per share, with EPS estimates ranging from $9.62 to $10.24. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for M&T Bank Corporation.

M&T Bank Corporation (NYSE:MTB) last posted its earnings results on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.08. M&T Bank Corporation had a return on equity of 9.48% and a net margin of 24.10%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $2.07 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on the stock. Macquarie cut shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, August 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $167.00 target price on shares of M&T Bank Corporation in a report on Friday, July 21st. BidaskClub raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Instinet dropped their target price on shares of M&T Bank Corporation from $148.00 to $144.00 and set a “neutral” rating on the stock in a report on Friday, June 30th. Finally, Zacks Investment Research raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a report on Tuesday, September 19th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $160.21.

M&T Bank Corporation (NYSE:MTB) traded down 0.01% during trading on Wednesday, reaching $163.15. The company’s stock had a trading volume of 443,129 shares. The company’s 50 day moving average price is $153.48 and its 200 day moving average price is $157.58. M&T Bank Corporation has a 52 week low of $112.25 and a 52 week high of $173.72. The company has a market cap of $24.79 billion, a P/E ratio of 19.10 and a beta of 0.78.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $3.00 annualized dividend and a yield of 1.84%. M&T Bank Corporation’s dividend payout ratio is currently 35.09%.

M&T Bank Corporation declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $900.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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In other M&T Bank Corporation news, insider Robert J. Bojdak sold 1,200 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $163.42, for a total value of $196,104.00. Following the transaction, the insider now directly owns 20,217 shares of the company’s stock, valued at approximately $3,303,862.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sabeth Siddique sold 950 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total transaction of $139,811.50. Following the completion of the transaction, the insider now directly owns 1,488 shares in the company, valued at $218,988.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,058 shares of company stock worth $1,799,055. Insiders own 3.18% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MTB. QCI Asset Management Inc. NY increased its holdings in shares of M&T Bank Corporation by 0.3% during the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock worth $171,000 after purchasing an additional 3 shares during the period. LVW Advisors LLC increased its holdings in shares of M&T Bank Corporation by 0.8% during the first quarter. LVW Advisors LLC now owns 3,298 shares of the bank’s stock worth $532,000 after purchasing an additional 25 shares during the period. NGAM Advisors L.P. increased its holdings in shares of M&T Bank Corporation by 0.4% during the second quarter. NGAM Advisors L.P. now owns 15,523 shares of the bank’s stock worth $2,514,000 after purchasing an additional 57 shares during the period. Mosaic Family Wealth LLC increased its holdings in shares of M&T Bank Corporation by 5.3% during the second quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock worth $198,000 after purchasing an additional 62 shares during the period. Finally, Boston Private Wealth LLC increased its holdings in shares of M&T Bank Corporation by 2.6% during the second quarter. Boston Private Wealth LLC now owns 2,681 shares of the bank’s stock worth $434,000 after purchasing an additional 67 shares during the period. 78.35% of the stock is currently owned by hedge funds and other institutional investors.

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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