M&T Bank Co. (MTB) Expected to Announce Earnings of $3.31 Per Share

Wall Street brokerages expect M&T Bank Co. (NYSE:MTB) to announce earnings of $3.31 per share for the current quarter, according to Zacks. Four analysts have made estimates for M&T Bank’s earnings. The lowest EPS estimate is $3.23 and the highest is $3.42. M&T Bank reported earnings of $2.94 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The firm is expected to report its next earnings report on Monday, April 15th.

On average, analysts expect that M&T Bank will report full-year earnings of $14.62 per share for the current financial year, with EPS estimates ranging from $14.34 to $15.09. For the next financial year, analysts expect that the company will post earnings of $15.56 per share, with EPS estimates ranging from $15.00 to $16.06. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover M&T Bank.

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M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $3.76 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $0.27. M&T Bank had a return on equity of 14.24% and a net margin of 29.72%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $2.66 EPS.

MTB has been the topic of a number of analyst reports. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Wedbush set a $165.00 price target on M&T Bank and gave the company a “hold” rating in a research report on Friday, January 18th. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price target on the stock in a research report on Friday, January 18th. Barclays reduced their price target on M&T Bank from $210.00 to $203.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 2nd. Finally, Morgan Stanley reduced their price target on M&T Bank from $175.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 8th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $180.40.

NYSE MTB opened at $173.48 on Friday. M&T Bank has a 12 month low of $133.78 and a 12 month high of $197.37. The stock has a market capitalization of $24.18 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.07 and a current ratio of 1.01.

In related news, insider Sabeth Siddique sold 365 shares of the company’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $165.67, for a total transaction of $60,469.55. Following the sale, the insider now owns 1,464 shares in the company, valued at approximately $242,540.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Jr. Ledgett sold 500 shares of the company’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $168.40, for a total value of $84,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,265 shares of company stock worth $2,022,995. 0.48% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in MTB. FMR LLC boosted its position in shares of M&T Bank by 7.5% during the 2nd quarter. FMR LLC now owns 4,251,775 shares of the financial services provider’s stock valued at $723,439,000 after purchasing an additional 297,143 shares in the last quarter. First Hawaiian Bank bought a new position in M&T Bank in the third quarter worth approximately $325,000. BB&T Corp boosted its holdings in M&T Bank by 9.1% in the third quarter. BB&T Corp now owns 19,177 shares of the financial services provider’s stock worth $3,156,000 after acquiring an additional 1,603 shares in the last quarter. Aperio Group LLC boosted its holdings in M&T Bank by 2.8% in the third quarter. Aperio Group LLC now owns 82,739 shares of the financial services provider’s stock worth $13,614,000 after acquiring an additional 2,249 shares in the last quarter. Finally, TIAA FSB boosted its holdings in M&T Bank by 3.0% in the third quarter. TIAA FSB now owns 14,332 shares of the financial services provider’s stock worth $2,358,000 after acquiring an additional 422 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.

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 retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

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

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