Earnings per share of $ 3.58 expected for M&T Bank Co. (NYSE: MTB) this quarter
Wall Street brokers expect M&T Bank Co. (NYSE: MTB) to post earnings per share (EPS) of $ 3.58 for the current quarter, Zacks investment research reports. Two analysts have released earnings estimates for M&T Bank. The lowest EPS estimate is $ 3.09 and the highest is $ 4.04. M&T Bank posted earnings per share of $ 1.76 in the same quarter of last year, which would indicate a positive year-over-year growth rate of 103.4%. The company is expected to announce its next results before the market opens on Wednesday, July 21.
On average, analysts expect M&T Bank to report annual earnings of $ 13.33 per share for the current fiscal year, with EPS estimates ranging from $ 12.80 to $ 14.54. For the next fiscal year, analysts predict the company will post earnings of $ 12.53 per share, with EPS estimates ranging from $ 12.16 to $ 12.86. Zacks Investment Research’s EPS calculations are an average based on a survey of seller-side research companies that cover M&T Bank.
M&T Bank (NYSE: MTB) last released its results on Sunday, April 18. The financial services provider reported earnings per share (EPS) of $ 3.33 for the quarter, beating Zacks’ consensus estimate of $ 3.00 by $ 0.33. M&T Bank recorded a return on equity of 10.39% and a net margin of 24.89%. The company posted revenue of $ 1.49 billion for the quarter, compared to analysts’ estimates of $ 1.49 billion. In the same quarter of the previous year, the company posted earnings per share of $ 1.93.
A number of research analysts have recently published reports on the stock. Deutsche Bank Aktiengesellschaft raised its price target for M&T Bank shares from $ 161.00 to $ 175.00 and gave the stock a “buy” rating in a research note on Thursday April 1. Barclays raised its price target on M&T Bank from $ 163.00 to $ 167.00 and rated the stock “overweight” in a Wednesday April 7th research note. Zacks investment research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a price target of $ 163.00 for the company in a report released on Tuesday, April 27. Morgan Stanley raised its price target on M&T Bank from $ 175.00 to $ 180.00 and gave the company an “equal weight” rating in a report released Thursday, April 29. Finally, Jefferies Financial Group reaffirmed a “custody” rating on M&T Bank shares in a research note on Monday, April 19. One equity research analyst rated the stock with a sell rating, four gave the conservation rating, and five gave the company a buy rating. The stock currently has a consensus rating of “Hold” and an average price target of $ 160.29.
M&T Bank shares opened at $ 146.62 on Thursday. M&T Bank has a one-year low of $ 88.48 and a one-year high of $ 168.27. The stock has a market cap of $ 18.86 billion, a P / E ratio of 12.93, a P / E / G ratio of 0.77 and a beta of 1.20. The company has a debt ratio of 0.23, a quick ratio of 1.06, and a current ratio of 1.06. The fifty-day moving average share price is $ 157.55.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 30. Shareholders of record on Tuesday, June 1 will receive a dividend of $ 1.10 per share. This represents an annualized dividend of $ 4.40 and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday May 28. M&T Bank’s dividend payout ratio (DPR) is currently 43.91%.
In addition, Executive Vice President Scott N. Warman sold 4,000 shares of the company in a transaction on Thursday, June 3. The stock was sold for an average price of $ 163.00, for a total value of $ 652,000.00. Following the sale, the Executive Vice President now directly owns 14,486 shares of the company, valued at $ 2,361,218. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In addition, EVP Michele D. Trolli sold 4,967 shares in a trade on Tuesday, April 27. The shares were sold for an average price of $ 155.74, for a total value of $ 773,560.58. Following the sale, the Executive Vice President now directly owns 10,622 shares of the company, valued at approximately $ 1,654,270.28. Disclosure of this sale can be found here. 0.64% of the shares are held by insiders.
Institutional investors have recently changed their holdings in the company. Stratos Wealth Partners LTD. increased its stake in M&T Bank shares by 3.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 1,889 shares of the financial services provider valued at $ 286,000 after acquiring 68 additional shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings of M&T Bank shares by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 24,223 shares of the financial services provider valued at $ 3,084,000 after purchasing 73 additional shares in the last quarter. Cigna Investments Inc. New increased its stake in M&T Bank shares by 1.7% during the first quarter. Cigna Investments Inc. New now owns 4,610 shares of the financial services provider valued at $ 700,000 after purchasing an additional 75 shares during the period. Barrett Asset Management LLC increased its position in M&T Bank shares by 31.3% in the 1st quarter. Barrett Asset Management LLC now owns 315 shares of the financial services provider worth $ 48,000 after purchasing an additional 75 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in M&T Bank by 9.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 920 shares of the financial services provider valued at $ 139,000 after acquiring 82 additional shares in the last quarter. 83.71% of the shares are currently held by institutional investors.
About M&T Bank
M&T Bank Corporation is a banking holding company providing commercial and retail banking services. The Company’s Business Banking segment provides deposit, loan, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial clients.
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