Wall Street analysts expect that M&T Bank Corporation (NYSE:MTB) will report $2.40 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for M&T Bank Corporation’s earnings. The highest EPS estimate is $2.47 and the lowest is $2.33. M&T Bank Corporation reported earnings per share of $2.01 in the same quarter last year, which suggests a positive year-over-year growth rate of 19.4%. The company is scheduled to announce its next earnings results on Thursday, January 18th.
On average, analysts expect that M&T Bank Corporation will report full year earnings of $9.10 per share for the current fiscal year, with EPS estimates ranging from $9.06 to $9.15. For the next year, analysts forecast that the firm will report earnings of $9.91 per share, with EPS estimates ranging from $9.66 to $10.29. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for M&T Bank Corporation.
M&T Bank Corporation (NYSE:MTB) last released its quarterly earnings data on Wednesday, October 18th. The bank reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. M&T Bank Corporation had a return on equity of 9.52% and a net margin of 23.97%. During the same period in the previous year, the firm earned $2.10 EPS.
MTB has been the subject of a number of analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $165.00 target price (down from $171.00) on shares of M&T Bank Corporation in a research report on Saturday, September 16th. Robert W. Baird reissued a “sell” rating and issued a $130.00 price objective on shares of M&T Bank Corporation in a report on Friday, October 6th. Zacks Investment Research lowered M&T Bank Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 9th. BidaskClub lowered M&T Bank Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Nomura increased their price objective on M&T Bank Corporation from $144.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $161.89.
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In related news, insider Randolph Michael Kasum sold 530,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $0.08, for a total value of $42,400.00. Also, VP Michele D. Trolli sold 9,730 shares of the business’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 completion of the transaction, the vice president now owns 24,708 shares in the company, valued at approximately $4,148,226.12. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,053,000 shares of company stock valued at $89,640 and sold 1,779,680 shares valued at $1,912,181. Company insiders own 3.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTB. Oppenheimer Asset Management Inc. acquired a new position in M&T Bank Corporation during the 1st quarter worth approximately $101,000. Dupont Capital Management Corp acquired a new position in M&T Bank Corporation during the 2nd quarter worth approximately $140,000. QCI Asset Management Inc. NY increased its position in M&T Bank Corporation by 0.3% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the bank’s stock worth $171,000 after purchasing an additional 3 shares during the period. Sun Life Financial INC boosted its stake in shares of M&T Bank Corporation by 8,576.9% during the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the bank’s stock worth $183,000 after acquiring an additional 1,115 shares in the last quarter. Finally, Mosaic Family Wealth LLC boosted its stake in shares of M&T Bank Corporation by 5.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the bank’s stock worth $198,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 78.53% of the company’s stock.
Shares of M&T Bank Corporation (NYSE MTB) opened at $157.10 on Monday. M&T Bank Corporation has a 1-year low of $132.70 and a 1-year high of $173.72. The firm has a market capitalization of $23,645.91, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.91 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 1.03.
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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