Wall Street analysts expect that M&T Bank Corporation (NYSE:MTB) will post sales of $1.42 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for M&T Bank Corporation’s earnings, with the highest sales estimate coming in at $1.42 billion and the lowest estimate coming in at $1.41 billion. M&T Bank Corporation posted sales of $1.34 billion during the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is expected to issue its next earnings report on Thursday, January 18th.

According to Zacks, analysts expect that M&T Bank Corporation will report full year sales of $1.42 billion for the current year, with estimates ranging from $5.58 billion to $5.63 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.79 billion per share, with estimates ranging from $5.73 billion to $5.90 billion. Zacks Investment Research’s sales 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 announced its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.43 billion. M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the prior year, the business earned $2.10 earnings per share.

A number of brokerages recently weighed in on MTB. Nomura raised their target price on shares of M&T Bank Corporation from $145.00 to $162.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Macquarie downgraded shares of M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research note on Friday, August 4th. BidaskClub downgraded shares of M&T Bank Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Wells Fargo & Company assumed coverage on shares of M&T Bank Corporation in a research note on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price target on the stock. Finally, Robert W. Baird reissued a “sell” rating and set a $145.00 price target on shares of M&T Bank Corporation in a research note on Friday, October 20th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $161.89.

Shares of M&T Bank Corporation (NYSE MTB) traded up $1.27 on Wednesday, reaching $160.71. 505,400 shares of the company were exchanged, compared to its average volume of 759,784. The stock has a market capitalization of $23,998.18, a P/E ratio of 18.16, a P/E/G ratio of 1.94 and a beta of 0.85. 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 Corporation has a 1-year low of $134.63 and a 1-year high of $173.72.

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In related news, VP Michele D. Trolli sold 9,730 shares of the company’s 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 transaction, the vice president now owns 24,708 shares in the company, valued at approximately $4,148,226.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sabeth Siddique sold 950 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $147.17, for a total value of $139,811.50. Following the completion of the transaction, the insider now directly owns 1,488 shares of the company’s stock, valued at approximately $218,988.96. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,063,000 shares of company stock worth $90,440 and sold 1,690,680 shares worth $1,903,281. Insiders own 3.18% of the company’s stock.

A number of large investors have recently modified their holdings of MTB. Capital Research Global Investors raised its position in M&T Bank Corporation by 5.7% in the 2nd quarter. Capital Research Global Investors now owns 5,620,509 shares of the financial services provider’s stock worth $910,241,000 after buying an additional 302,511 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of M&T Bank Corporation by 1,012.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 250,491 shares of the financial services provider’s stock valued at $40,339,000 after purchasing an additional 227,980 shares during the last quarter. Capital World Investors increased its position in shares of M&T Bank Corporation by 5.1% during the 2nd quarter. Capital World Investors now owns 4,129,000 shares of the financial services provider’s stock valued at $668,692,000 after purchasing an additional 200,000 shares during the last quarter. PGGM Investments increased its position in shares of M&T Bank Corporation by 103.5% during the 3rd quarter. PGGM Investments now owns 256,781 shares of the financial services provider’s stock valued at $41,352,000 after purchasing an additional 130,607 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its position in shares of M&T Bank Corporation by 115.4% during the 3rd quarter. Pinebridge Investments L.P. now owns 177,184 shares of the financial services provider’s stock valued at $28,534,000 after purchasing an additional 94,919 shares during the last quarter. 79.28% of the stock is owned by institutional investors and hedge funds.

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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