M&T Bank Co. to Post FY2018 Earnings of $11.60 Per Share, Jefferies Group Forecasts (MTB)

M&T Bank Co. (NYSE:MTB) – Investment analysts at Jefferies Group lifted their FY2018 earnings estimates for M&T Bank in a report released on Monday. Jefferies Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $11.60 for the year, up from their previous forecast of $10.00. Jefferies Group currently has a “Buy” rating and a $201.00 price objective on the stock. Jefferies Group also issued estimates for M&T Bank’s FY2019 earnings at $12.40 EPS.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.40 by ($0.19). M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $2.10 EPS.

Several other equities research analysts also recently commented on MTB. Instinet restated a “neutral” rating and issued a $145.00 target price (up previously from $144.00) on shares of M&T Bank in a research note on Saturday, September 30th. Barclays lifted their price target on M&T Bank from $175.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Vining Sparks reaffirmed a “buy” rating and issued a $200.00 price target on shares of M&T Bank in a report on Monday. Nomura lifted their price target on M&T Bank from $144.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Finally, ValuEngine raised M&T Bank from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $170.78.

Shares of M&T Bank (NYSE MTB) traded up $2.49 during trading hours on Wednesday, hitting $174.91. 539,100 shares of the stock traded hands, compared to its average volume of 511,267. M&T Bank has a 52 week low of $141.12 and a 52 week high of $176.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $26,480.00, a P/E ratio of 20.15, a PEG ratio of 1.85 and a beta of 0.84.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.72%. M&T Bank’s payout ratio is currently 34.56%.

In related news, Director Gary N. Geisel sold 1,046 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $170.49, for a total value of $178,332.54. Following the completion of the transaction, the director now directly owns 17,586 shares in the company, valued at approximately $2,998,237.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael R. Spychala sold 6,935 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $172.73, for a total value of $1,197,882.55. Following the completion of the transaction, the vice president now owns 51,622 shares of the company’s stock, valued at $8,916,668.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 176,000 shares of company stock valued at $14,050 and have sold 32,128 shares valued at $5,474,208. 3.18% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Sun Life Financial INC grew its position in shares of M&T Bank by 8,576.9% in the 2nd quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 1,115 shares during the period. Wedbush Securities Inc. bought a new stake in M&T Bank in the 3rd quarter valued at $206,000. Columbia Asset Management bought a new stake in M&T Bank in the 3rd quarter valued at $212,000. Virtu Financial LLC bought a new stake in M&T Bank in the 3rd quarter valued at $213,000. Finally, Janney Capital Management LLC bought a new stake in M&T Bank in the 3rd quarter valued at $231,000. Institutional investors and hedge funds own 77.73% of the company’s stock.

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About M&T Bank

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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