M&T Bank Corporation (NYSE:MTB) – Stock analysts at Jefferies Group reduced their Q4 2017 earnings per share estimates for shares of M&T Bank Corporation in a report issued on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the bank will post earnings per share of $2.48 for the quarter, down from their prior estimate of $2.50. Jefferies Group currently has a “Buy” rating and a $186.00 price target on the stock. Jefferies Group also issued estimates for M&T Bank Corporation’s Q1 2018 earnings at $2.31 EPS, Q2 2018 earnings at $2.51 EPS, Q3 2018 earnings at $2.59 EPS and Q4 2018 earnings at $2.65 EPS.

A number of other analysts also recently weighed in on MTB. Instinet reissued a “neutral” rating and set a $145.00 target price (up previously from $144.00) on shares of M&T Bank Corporation in a research report on Saturday, September 30th. ValuEngine raised shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Nomura raised their price objective on shares of M&T Bank Corporation from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Finally, Robert W. Baird reaffirmed a “sell” rating and set a $130.00 price objective on shares of M&T Bank Corporation in a research report on Friday, October 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $160.21.

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M&T Bank Corporation (MTB) opened at 163.16 on Wednesday. The company’s 50-day moving average is $153.48 and its 200 day moving average is $157.58. The company has a market cap of $24.79 billion, a price-to-earnings ratio of 19.10 and a beta of 0.78. M&T Bank Corporation has a 1-year low of $112.25 and a 1-year high of $173.72.

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

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

M&T Bank Corporation announced that its board has approved a share buyback program on Wednesday, June 28th that allows the company to buyback $900.00 million in outstanding shares. This buyback authorization allows the bank to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other M&T Bank Corporation news, insider Robert J. Bojdak sold 1,200 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $163.42, for a total transaction of $196,104.00. Following the transaction, the insider now directly owns 20,217 shares in the company, valued at approximately $3,303,862.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sabeth Siddique sold 950 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total value of $139,811.50. Following the transaction, the insider now owns 1,488 shares in the company, valued at $218,988.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,058 shares of company stock worth $1,799,055. Company insiders own 3.18% of the company’s stock.

A number of large investors have recently modified their holdings of MTB. Victory Capital Management Inc. lifted its stake in M&T Bank Corporation by 7.3% during the 1st quarter. Victory Capital Management Inc. now owns 11,114 shares of the bank’s stock valued at $1,720,000 after acquiring an additional 759 shares in the last quarter. Teachers Advisors LLC lifted its stake in M&T Bank Corporation by 0.9% during the 1st quarter. Teachers Advisors LLC now owns 479,968 shares of the bank’s stock valued at $74,265,000 after acquiring an additional 4,335 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in M&T Bank Corporation by 18.3% during the 1st quarter. TIAA CREF Investment Management LLC now owns 553,414 shares of the bank’s stock valued at $85,630,000 after acquiring an additional 85,541 shares in the last quarter. California Public Employees Retirement System lifted its stake in M&T Bank Corporation by 4.3% during the 1st quarter. California Public Employees Retirement System now owns 393,774 shares of the bank’s stock valued at $60,929,000 after acquiring an additional 16,300 shares in the last quarter. Finally, Verity Asset Management Inc. bought a new position in M&T Bank Corporation during the 1st quarter valued at $252,000. Institutional investors and hedge funds own 78.35% of the company’s stock.

About M&T Bank Corporation

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.

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

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