M&T Bank (NYSE:MTB) is set to release its earnings data before the market opens on Monday, April 16th. Analysts expect M&T Bank to post earnings of $2.63 per share for the quarter.
M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.26. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.41 billion. M&T Bank had a return on equity of 10.12% and a net margin of 23.40%. M&T Bank’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $1.98 EPS. On average, analysts expect M&T Bank to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.
Shares of NYSE MTB opened at $181.69 on Monday. The stock has a market cap of $27,285.66, a P/E ratio of 19.43, a PEG ratio of 1.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 1.05. M&T Bank has a 1-year low of $141.12 and a 1-year high of $197.37.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Monday, March 5th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.65%. M&T Bank’s dividend payout ratio is 32.09%.
M&T Bank declared that its Board of Directors has authorized a share buyback plan on Monday, February 5th that permits the company to buyback $745.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
A number of brokerages recently weighed in on MTB. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $201.00 price objective on the stock in a report on Tuesday, April 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 price target on shares of M&T Bank in a research note on Thursday, December 14th. Wedbush reaffirmed a “neutral” rating and issued a $186.00 price target (up from $180.00) on shares of M&T Bank in a research note on Tuesday, February 6th. Piper Jaffray reaffirmed a “neutral” rating on shares of M&T Bank in a research note on Thursday, January 18th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $200.00 price target on shares of M&T Bank in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. M&T Bank has an average rating of “Hold” and a consensus target price of $175.47.
In other news, insider Michael J. Todaro sold 672 shares of M&T Bank 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 sale, the insider now directly owns 814 shares in the company, valued at approximately $153,487.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Denis J. Salamone sold 31,511 shares of M&T Bank stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $188.00, for a total value of $5,924,068.00. Following the completion of the sale, the director now owns 125,133 shares in the company, valued at $23,525,004. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,091 shares of company stock worth $13,594,655. Corporate insiders own 0.48% 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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