Jefferies Group Equities Analysts Increase Earnings Estimates for M&T Bank Co. (MTB)

M&T Bank Co. (NYSE:MTB) – Investment analysts at Jefferies Group upped their FY2018 earnings per share estimates for shares of M&T Bank in a report issued on Monday, Zacks Investment Research reports. Jefferies Group analyst K. Usdin now forecasts that the financial services provider will post earnings per share of $11.60 for the year, up from their previous estimate of $10.00. Jefferies Group 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 announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.26. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis.

Other equities analysts have also issued reports about the company. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price target on shares of M&T Bank in a research note on Thursday, December 14th. Citigroup reissued a “neutral” rating and set a $170.00 price target (up from $160.00) on shares of M&T Bank in a research note on Monday, October 9th. Nomura raised their price objective on M&T Bank from $145.00 to $162.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of M&T Bank in a research note on Thursday, January 18th. Finally, Robert W. Baird reaffirmed a “sell” rating and issued a $145.00 price objective on shares of M&T Bank in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $174.00.

M&T Bank (MTB) opened at $189.20 on Wednesday. M&T Bank has a one year low of $141.12 and a one year high of $193.85. The company has a market capitalization of $29,026.89, a P/E ratio of 21.77, a P/E/G ratio of 1.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 0.99.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in M&T Bank by 2.8% during the 4th quarter. American Century Companies Inc. now owns 1,584,086 shares of the financial services provider’s stock worth $270,863,000 after purchasing an additional 42,852 shares during the period. Huntington National Bank increased its holdings in M&T Bank by 11.3% during the 4th quarter. Huntington National Bank now owns 108,143 shares of the financial services provider’s stock worth $18,491,000 after purchasing an additional 10,952 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in M&T Bank by 3.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 25,930 shares of the financial services provider’s stock worth $4,434,000 after purchasing an additional 803 shares during the period. Everence Capital Management Inc. increased its holdings in M&T Bank by 32.2% during the 4th quarter. Everence Capital Management Inc. now owns 4,596 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 1,120 shares during the period. Finally, Aperio Group LLC increased its holdings in M&T Bank by 9.8% during the 4th quarter. Aperio Group LLC now owns 76,882 shares of the financial services provider’s stock worth $13,146,000 after purchasing an additional 6,877 shares during the period. Institutional investors own 77.82% of the company’s stock.

In other news, insider D Scott N. Warman sold 22,083 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $187.97, for a total value of $4,150,941.51. Following the sale, the insider now directly owns 33,941 shares in the company, valued at $6,379,889.77. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Todaro sold 672 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $188.56, for a total value of $126,712.32. Following the completion of the sale, the insider now owns 814 shares in the company, valued at $153,487.84. The disclosure for this sale can be found here. Over the last quarter, insiders bought 34,000 shares of company stock worth $3,110 and sold 92,427 shares worth $17,033,174. Corporate insiders own 3.18% 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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Earnings History and Estimates for M&T Bank (NYSE:MTB)

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