M&T Bank Co. (NYSE:MTB) Expected to Post Earnings of $3.00 Per Share

Wall Street analysts forecast that M&T Bank Co. (NYSE:MTB – Get Rating) will post earnings of $3.00 per share for the current quarter, Zacks reports. Fifteen analysts have provided estimates for M&T Bank’s earnings. The highest EPS estimate is $3.65 and the lowest is $1.73. M&T Bank reported earnings of $3.45 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that M&T Bank will report full-year earnings of $13.12 per share for the current fiscal year, with EPS estimates ranging from $11.21 to $15.59. For the next financial year, analysts forecast that the business will report earnings of $16.59 per share, with EPS estimates ranging from $13.75 to $20.17. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow M&T Bank.

M&T Bank (NYSE:MTB – Get Rating) last posted its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.24. M&T Bank had a net margin of 29.31% and a return on equity of 11.45%. During the same period last year, the company earned $3.41 EPS.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. began coverage on M&T Bank in a report on Thursday, April 14th. They issued a “neutral” rating for the company. StockNews.com initiated coverage on shares of M&T Bank in a research report on Thursday. They set a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of M&T Bank from $180.00 to $200.00 in a report on Friday, March 25th. Citigroup began coverage on shares of M&T Bank in a research report on Thursday, March 24th. They issued a “buy” rating on the stock. Finally, Wedbush upped their price target on shares of M&T Bank from $187.00 to $212.00 in a research report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $192.28.

MTB stock traded up $0.85 during midday trading on Monday, reaching $166.58. The company had a trading volume of 1,032,637 shares, compared to its average volume of 1,404,537. The company has a market capitalization of $21.50 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.03 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05. M&T Bank has a 1 year low of $128.46 and a 1 year high of $186.95. The firm has a 50-day moving average price of $170.78 and a 200-day moving average price of $166.81.

M&T Bank declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 22nd that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Monday, February 28th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, February 25th. M&T Bank’s payout ratio is 36.67%.

Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of M&T Bank during the fourth quarter valued at about $155,332,000. BlackRock Inc. boosted its position in M&T Bank by 8.8% during the 1st quarter. BlackRock Inc. now owns 11,292,279 shares of the financial services provider’s stock valued at $1,914,040,000 after acquiring an additional 915,914 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of M&T Bank during the 4th quarter worth approximately $117,964,000. Wellington Management Group LLP lifted its stake in shares of M&T Bank by 9.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,219,835 shares of the financial services provider’s stock valued at $1,078,210,000 after purchasing an additional 648,872 shares during the period. Finally, Castleview Partners LLC bought a new stake in shares of M&T Bank during the fourth quarter valued at approximately $4,106,000. 87.61% of the stock is owned by hedge funds and other institutional investors.

About M&T Bank (Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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