M&T Bank Co. (NYSE:MTB) – Investment analysts at Jefferies Financial Group boosted their FY2018 EPS estimates for M&T Bank in a report issued on Wednesday, October 17th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will earn $13.05 per share for the year, up from their previous estimate of $12.89. Jefferies Financial Group currently has a “Buy” rating and a $195.00 target price on the stock. Jefferies Financial Group also issued estimates for M&T Bank’s Q2 2019 earnings at $3.59 EPS, Q3 2019 earnings at $3.76 EPS and Q4 2019 earnings at $3.79 EPS.
M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.35 by $0.18. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $2.21 EPS.
A number of other research firms have also weighed in on MTB. Zacks Investment Research lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Morgan Stanley cut their price objective on shares of M&T Bank from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Vining Sparks reiterated a “buy” rating and issued a $220.00 price objective on shares of M&T Bank in a research note on Tuesday, October 9th. Nomura cut their price objective on shares of M&T Bank from $195.00 to $178.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, ValuEngine lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $181.67.
NYSE:MTB opened at $160.77 on Friday. The firm has a market capitalization of $23.28 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. M&T Bank has a 1-year low of $155.36 and a 1-year high of $197.37. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64.
A number of hedge funds and other institutional investors have recently made changes to their positions in MTB. GSA Capital Partners LLP purchased a new stake in M&T Bank during the first quarter worth $342,000. United Capital Financial Advisers LLC boosted its holdings in M&T Bank by 15.2% during the first quarter. United Capital Financial Advisers LLC now owns 2,994 shares of the financial services provider’s stock worth $552,000 after buying an additional 394 shares in the last quarter. LPL Financial LLC boosted its holdings in M&T Bank by 3.6% during the first quarter. LPL Financial LLC now owns 8,392 shares of the financial services provider’s stock worth $1,547,000 after buying an additional 293 shares in the last quarter. Private Capital Group LLC boosted its holdings in 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 worth $113,000 after buying an additional 539 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in M&T Bank by 7.3% during the first quarter. Xact Kapitalforvaltning AB now owns 14,221 shares of the financial services provider’s stock worth $2,622,000 after buying an additional 972 shares in the last quarter. 80.58% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Denis J. Salamone sold 25,209 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total transaction of $4,531,569.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th were paid a $1.00 dividend. The ex-dividend date was Friday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s dividend payout ratio is presently 42.78%.
About M&T Bank
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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