Equities Analysts Set Expectations for M&T Bank Co.’s FY2018 Earnings (MTB)

M&T Bank Co. (NYSE:MTB) – Equities researchers at Wedbush upped their FY2018 earnings estimates for M&T Bank in a report issued on Friday. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings per share of $12.12 for the year, up from their prior forecast of $11.86. Wedbush also issued estimates for M&T Bank’s Q1 2019 earnings at $2.82 EPS, Q2 2019 earnings at $3.22 EPS, Q3 2019 earnings at $3.43 EPS, Q4 2019 earnings at $3.44 EPS and FY2019 earnings at $12.89 EPS.

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

Other equities research analysts have also recently issued reports about the company. Vining Sparks reiterated a “buy” rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, January 8th. ValuEngine upgraded M&T Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group reiterated a “buy” rating and set a $201.00 price target on shares of M&T Bank in a research report on Monday, January 8th. Royal Bank of Canada reiterated a “buy” rating on shares of M&T Bank in a research report on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $180.00 price target on shares of M&T Bank in a research report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $171.12.

Shares of M&T Bank (MTB) opened at $188.78 on Monday. M&T Bank has a 52-week low of $141.12 and a 52-week high of $188.85. The firm has a market capitalization of $28,414.30, a PE ratio of 21.72, a PEG ratio of 1.29 and a beta of 0.84. The company has a current ratio of 0.99, a quick ratio of 1.05 and a debt-to-equity ratio of 0.54.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors boosted its stake in M&T Bank by 5.7% in 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. Capital World Investors boosted its stake in M&T Bank by 5.1% in 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. Schwab Charles Investment Management Inc. boosted its stake in M&T Bank by 4.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 514,981 shares of the financial services provider’s stock worth $88,057,000 after buying an additional 20,275 shares in the last quarter. California Public Employees Retirement System boosted its stake in M&T Bank by 5.6% in the third quarter. California Public Employees Retirement System now owns 418,997 shares of the financial services provider’s stock worth $67,475,000 after buying an additional 22,223 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in M&T Bank by 24.4% in the fourth quarter. Bank of Montreal Can now owns 375,427 shares of the financial services provider’s stock worth $64,194,000 after buying an additional 73,689 shares in the last quarter. 77.78% of the stock is owned by institutional investors and hedge funds.

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $171.19, for a total value of $171,190.00. Following the completion of the sale, the director now owns 52,049 shares of the company’s stock, valued at $8,910,268.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michele D. Trolli sold 9,730 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $167.89, for a total value of $1,633,569.70. Following the completion of the sale, the vice president now directly owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 114,000 shares of company stock worth $9,710 and sold 32,128 shares worth $5,474,208. 3.18% of the stock is currently owned by corporate insiders.

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

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

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