M&T Bank Corporation (MTB) Set to Announce Earnings on Wednesday

M&T Bank Corporation (NYSE:MTB) is scheduled to post its quarterly earnings results before the market opens on Wednesday, October 18th. Analysts expect M&T Bank Corporation to post earnings of $2.38 per share for the quarter.

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts expect M&T Bank Corporation to post $9.28 EPS for the current fiscal year and $10.00 EPS for the next fiscal year.

Shares of M&T Bank Corporation (NYSE:MTB) opened at 163.16 on Wednesday. M&T Bank Corporation has a 12 month low of $112.25 and a 12 month high of $173.72. The company has a market cap of $24.79 billion, a P/E ratio of 19.10 and a beta of 0.78. The company’s 50 day moving average is $153.48 and its 200-day moving average is $157.58.

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

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

In other M&T Bank Corporation news, insider Sabeth Siddique sold 950 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total value of $139,811.50. Following the completion of the sale, the insider now owns 1,488 shares in the company, valued at approximately $218,988.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michele D. Trolli sold 8,908 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $164.25, for a total transaction of $1,463,139.00. Following the completion of the sale, the vice president now owns 23,091 shares of the company’s stock, valued at approximately $3,792,696.75. The disclosure for this sale can be found here. Insiders sold a total of 11,058 shares of company stock valued at $1,799,055 in the last 90 days. Corporate insiders own 3.18% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://ledgergazette.com/2017/10/11/mt-bank-corporation-mtb-set-to-announce-earnings-on-wednesday.html.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of M&T Bank Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price objective for the company. Robert W. Baird reaffirmed a “sell” rating and set a $130.00 price objective on shares of M&T Bank Corporation in a report on Friday, October 6th. Keefe, Bruyette & Woods set a $160.00 price objective on shares of M&T Bank Corporation and gave the stock a “hold” rating in a report on Monday, June 19th. Instinet reaffirmed a “neutral” rating and set a $145.00 price objective (up from $144.00) on shares of M&T Bank Corporation in a report on Saturday, September 30th. Finally, Zacks Investment Research downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. M&T Bank Corporation has an average rating of “Hold” and an average price target of $160.21.

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 tw

M&T Bank Corporation (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $2.07 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts expect M&T Bank Corporation to post $9.28 EPS for the current fiscal year and $10.00 EPS for the next fiscal year.

Shares of M&T Bank Corporation (NYSE:MTB) opened at 163.16 on Wednesday. M&T Bank Corporation has a 12 month low of $112.25 and a 12 month high of $173.72. The company has a market cap of $24.79 billion, a P/E ratio of 19.10 and a beta of 0.78. The company’s 50 day moving average is $153.48 and its 200-day moving average is $157.58.

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

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

In other M&T Bank Corporation news, insider Sabeth Siddique sold 950 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total value of $139,811.50. Following the completion of the sale, the insider now owns 1,488 shares in the company, valued at approximately $218,988.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michele D. Trolli sold 8,908 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $164.25, for a total transaction of $1,463,139.00. Following the completion of the sale, the vice president now owns 23,091 shares of the company’s stock, valued at approximately $3,792,696.75. The disclosure for this sale can be found here. Insiders sold a total of 11,058 shares of company stock valued at $1,799,055 in the last 90 days. Corporate insiders own 3.18% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://ledgergazette.com/2017/10/11/mt-bank-corporation-mtb-set-to-announce-earnings-on-wednesday.html.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of M&T Bank Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price objective for the company. Robert W. Baird reaffirmed a “sell” rating and set a $130.00 price objective on shares of M&T Bank Corporation in a report on Friday, October 6th. Keefe, Bruyette & Woods set a $160.00 price objective on shares of M&T Bank Corporation and gave the stock a “hold” rating in a report on Monday, June 19th. Instinet reaffirmed a “neutral” rating and set a $145.00 price objective (up from $144.00) on shares of M&T Bank Corporation in a report on Saturday, September 30th. Finally, Zacks Investment Research downgraded shares of M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. M&T Bank Corporation has an average rating of “Hold” and an average price target of $160.21.

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.

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

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