Brokerages Expect M&T Bank Co. (MTB) to Post $2.50 Earnings Per Share

Brokerages expect that M&T Bank Co. (NYSE:MTB) will announce earnings per share (EPS) of $2.50 for the current quarter, according to Zacks. Two analysts have made estimates for M&T Bank’s earnings, with estimates ranging from $2.21 to $2.74. M&T Bank reported earnings of $2.15 per share in the same quarter last year, which indicates a positive year over year growth rate of 16.3%. The firm is scheduled to report its next quarterly earnings report on Monday, April 16th.

According to Zacks, analysts expect that M&T Bank will report full year earnings of $11.38 per share for the current year, with EPS estimates ranging from $9.66 to $12.52. For the next fiscal year, analysts expect that the company will post earnings of $12.43 per share, with EPS estimates ranging from $10.38 to $13.74. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for M&T Bank.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.26. M&T Bank had a net margin of 23.40% and a return on equity of 10.12%. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the business posted $1.98 EPS. The business’s revenue was up 2.8% compared to the same quarter last year.

Several research firms recently issued reports on MTB. Royal Bank of Canada reiterated a “buy” rating on shares of M&T Bank in a research note on Friday. Piper Jaffray Companies reiterated a “neutral” rating on shares of M&T Bank in a research note on Thursday. Wells Fargo & Co set a $180.00 target price on shares of M&T Bank and gave the company a “hold” rating in a research note on Wednesday, December 20th. Vining Sparks reiterated a “buy” rating and issued a $200.00 target price on shares of M&T Bank in a research note on Monday, January 8th. Finally, Jefferies Group reiterated a “buy” rating and issued a $201.00 target price on shares of M&T Bank in a research note on Monday, January 8th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $171.12.

In other M&T Bank news, VP Michele D. Trolli sold 9,730 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the completion of the transaction, the vice president now directly owns 24,708 shares in the company, valued at $4,148,226.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Spychala sold 13,417 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 51,622 shares of the company’s stock, valued at $8,823,232.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 114,000 shares of company stock valued at $9,710 and have sold 32,128 shares valued at $5,474,208. Corporate insiders own 3.18% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MTB. Capital Research Global Investors grew its holdings in shares of M&T Bank by 5.7% during the second 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 in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of M&T Bank by 1,012.7% during the third quarter. Canada Pension Plan Investment Board now owns 250,491 shares of the financial services provider’s stock worth $40,339,000 after buying an additional 227,980 shares in the last quarter. Capital World Investors grew its holdings in shares of M&T Bank by 5.1% during the second quarter. Capital World Investors now owns 4,129,000 shares of the financial services provider’s stock worth $668,692,000 after buying an additional 200,000 shares in the last quarter. PGGM Investments grew its holdings in shares of M&T Bank by 103.5% during the third quarter. PGGM Investments now owns 256,781 shares of the financial services provider’s stock worth $41,352,000 after buying an additional 130,607 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in shares of M&T Bank by 115.4% during the third quarter. Pinebridge Investments L.P. now owns 177,184 shares of the financial services provider’s stock worth $28,534,000 after buying an additional 94,919 shares in the last quarter. 77.73% of the stock is owned by institutional investors and hedge funds.

M&T Bank (MTB) traded up $2.63 on Friday, hitting $188.78. 745,069 shares of the company traded hands, compared to its average volume of 443,655. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 0.99. M&T Bank has a 1 year low of $141.12 and a 1 year high of $188.85. The firm has a market cap of $28,414.22, a PE ratio of 21.72, a P/E/G ratio of 1.34 and a beta of 0.84.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Thursday, November 30th. M&T Bank’s dividend payout ratio is presently 34.52%.

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M&T Bank 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 (NYSE:MTB)

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