M&T Bank Co. (NYSE:MTB) – Investment analysts at Wedbush dropped their Q2 2021 earnings per share (EPS) estimates for shares of M&T Bank in a report issued on Monday, June 29th. Wedbush analyst P. Winter now expects that the financial services provider will post earnings of $2.35 per share for the quarter, down from their prior forecast of $2.55. Wedbush also issued estimates for M&T Bank’s Q3 2021 earnings at $2.67 EPS, Q4 2021 earnings at $2.82 EPS and FY2021 earnings at $9.70 EPS.
M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 20th. The financial services provider reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.38. M&T Bank had a net margin of 24.99% and a return on equity of 11.84%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm posted $3.35 earnings per share.
Other research analysts have also issued research reports about the stock. ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Deutsche Bank cut their price target on shares of M&T Bank from $185.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. UBS Group lifted their price objective on shares of M&T Bank from $98.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Wells Fargo & Co lifted their price objective on shares of M&T Bank from $120.00 to $135.00 in a research note on Friday, June 5th. Finally, Nomura Securities dropped their price objective on shares of M&T Bank from $176.00 to $107.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $143.73.
NYSE MTB opened at $103.97 on Wednesday. M&T Bank has a one year low of $85.09 and a one year high of $174.93. The company’s 50 day moving average price is $105.34 and its 200 day moving average price is $131.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 4.67 and a beta of 1.21.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Friday, May 29th. M&T Bank’s dividend payout ratio is presently 32.00%.
In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $112.64, for a total value of $112,640.00. Following the completion of the transaction, the executive vice president now owns 1,789 shares of the company’s stock, valued at $201,512.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ boosted its holdings in M&T Bank by 29.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 31,296 shares of the financial services provider’s stock worth $3,237,000 after purchasing an additional 7,117 shares during the period. Confluence Investment Management LLC boosted its holdings in M&T Bank by 13.8% in the first quarter. Confluence Investment Management LLC now owns 138,012 shares of the financial services provider’s stock worth $14,275,000 after purchasing an additional 16,774 shares during the period. State of Tennessee Treasury Department boosted its holdings in M&T Bank by 55.9% in the first quarter. State of Tennessee Treasury Department now owns 49,013 shares of the financial services provider’s stock worth $5,070,000 after purchasing an additional 17,575 shares during the period. Morgan Stanley boosted its holdings in M&T Bank by 12.9% in the first quarter. Morgan Stanley now owns 216,550 shares of the financial services provider’s stock worth $22,397,000 after purchasing an additional 24,818 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in M&T Bank by 3.3% in the first quarter. 1832 Asset Management L.P. now owns 62,012 shares of the financial services provider’s stock worth $6,458,000 after purchasing an additional 2,000 shares during the period. 83.11% of the stock is owned by hedge funds and other institutional investors.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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