M&T Bank Co. (NYSE:MTB) – Analysts at Wedbush upped their Q1 2019 earnings per share estimates for M&T Bank in a report released on Thursday, January 17th. Wedbush analyst P. Winter now expects that the financial services provider will earn $3.29 per share for the quarter, up from their prior forecast of $3.20. Wedbush has a “Hold” rating and a $188.00 price target on the stock. Wedbush also issued estimates for M&T Bank’s Q2 2019 earnings at $3.72 EPS, Q3 2019 earnings at $3.82 EPS, Q4 2019 earnings at $3.92 EPS, FY2019 earnings at $14.75 EPS and FY2020 earnings at $15.74 EPS.
A number of other research firms also recently commented on MTB. Zacks Investment Research downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Vining Sparks reissued a “buy” rating and set a $220.00 target price on shares of M&T Bank in a research report on Tuesday, October 9th. Nomura cut their target price on shares of M&T Bank from $195.00 to $178.00 and set a “neutral” rating on the stock in a research report on Thursday, October 18th. ValuEngine downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Piper Jaffray Companies raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and set a $194.00 target price on the stock in a research report on Monday, October 22nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $182.70.
M&T Bank (NYSE:MTB) last posted its 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. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same quarter last year, the firm posted $2.66 EPS.
Several institutional investors have recently modified their holdings of the company. Focused Wealth Management Inc acquired a new stake in M&T Bank in the 3rd quarter worth approximately $102,000. Amica Retiree Medical Trust acquired a new stake in M&T Bank during the 3rd quarter valued at approximately $108,000. Sageworth Trust Co lifted its stake in M&T Bank by 220.0% during the 3rd quarter. Sageworth Trust Co now owns 800 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 550 shares during the period. NEXT Financial Group Inc acquired a new stake in M&T Bank during the 3rd quarter valued at approximately $165,000. Finally, First Midwest Bank Trust Division lifted its stake in M&T Bank by 7.7% during the 4th quarter. First Midwest Bank Trust Division now owns 1,406 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 100 shares during the period. 80.59% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Sabeth Siddique sold 930 shares of M&T Bank stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $164.80, for a total value of $153,264.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 500 shares of M&T Bank stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $168.40, for a total transaction of $84,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,164 shares of company stock worth $524,899. Insiders own 0.48% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Monday, December 3rd were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, November 30th. M&T Bank’s payout ratio is currently 31.10%.
M&T Bank Company Profile
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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