M&T Bank Co. (NYSE:MTB) – Equities researchers at Jefferies Financial Group raised their Q4 2018 EPS estimates for shares of M&T Bank in a research report issued on Wednesday, July 18th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will post earnings per share of $3.46 for the quarter, up from their prior forecast of $3.41. Jefferies Financial Group currently has a “Buy” rating and a $195.00 price objective on the stock. Jefferies Financial Group also issued estimates for M&T Bank’s FY2019 earnings at $14.05 EPS.
M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.17 by $0.09. M&T Bank had a net margin of 24.57% and a return on equity of 11.80%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm earned $2.35 earnings per share.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Tuesday, June 19th. Sanford C. Bernstein upgraded shares of M&T Bank from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 27th. They noted that the move was a valuation call. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday. Wedbush upped their price objective on shares of M&T Bank from $190.00 to $193.00 and gave the stock a “neutral” rating in a report on Tuesday, April 17th. Finally, Robert W. Baird upgraded shares of M&T Bank from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $178.56.
M&T Bank opened at $173.00 on Friday, Marketbeat Ratings reports. M&T Bank has a 1 year low of $141.12 and a 1 year high of $197.37. The stock has a market capitalization of $25.09 billion, a P/E ratio of 18.50, a P/E/G ratio of 0.99 and a beta of 0.92. The company has a quick ratio of 1.05, a current ratio of 1.01 and a debt-to-equity ratio of 0.58.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 1st were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, May 31st. This is a boost from M&T Bank’s previous quarterly dividend of $0.75. M&T Bank’s dividend payout ratio is 34.22%.
In other news, insider Robert J. Bojdak sold 1,570 shares of the stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $177.93, for a total transaction of $279,350.10. Following the sale, the insider now owns 20,501 shares in the company, valued at $3,647,742.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sabeth Siddique sold 975 shares of the stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $182.52, for a total transaction of $177,957.00. Following the sale, the insider now owns 2,759 shares in the company, valued at approximately $503,572.68. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Large investors have recently bought and sold shares of the company. Private Capital Group LLC grew its holdings in shares of M&T Bank by 728.4% during the first quarter. Private Capital Group LLC now owns 613 shares of the financial services provider’s stock valued at $113,000 after buying an additional 539 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of M&T Bank during the second quarter valued at approximately $171,000. Northstar Asset Management LLC purchased a new stake in shares of M&T Bank during the first quarter valued at approximately $204,000. Fisher Asset Management LLC purchased a new stake in shares of M&T Bank during the first quarter valued at approximately $204,000. Finally, Chicago Equity Partners LLC purchased a new stake in M&T Bank in the first quarter worth approximately $208,000. Hedge funds and other institutional investors own 78.78% of the company’s stock.
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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