Brokers Offer Predictions for M&T Bank Co.’s Q4 2018 Earnings (MTB)

M&T Bank Co. (NYSE:MTB) – Research analysts at Wedbush increased their Q4 2018 earnings per share (EPS) estimates for M&T Bank in a report released on Thursday, October 18th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings per share of $3.51 for the quarter, up from their prior estimate of $3.50. Wedbush currently has a “Hold” rating and a $188.00 price target on the stock. Wedbush also issued estimates for M&T Bank’s Q1 2019 earnings at $3.20 EPS, Q2 2019 earnings at $3.61 EPS, Q3 2019 earnings at $3.76 EPS, Q4 2019 earnings at $3.86 EPS, FY2019 earnings at $14.43 EPS and FY2020 earnings at $15.48 EPS.

Other research analysts have also recently issued research reports about the company. Vining Sparks reissued a “buy” rating and issued a $220.00 target price on shares of M&T Bank in a research note on Tuesday, October 9th. Jefferies Financial Group reissued a “buy” rating and issued a $195.00 target price on shares of M&T Bank in a research note on Friday, July 13th. Goldman Sachs Group raised M&T Bank from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 26th. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $191.00 target price on the stock in a research note on Tuesday, October 9th. Finally, Morgan Stanley reduced their target price on 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $184.00.

MTB opened at $162.63 on Friday. The firm has a market capitalization of $23.12 billion, a P/E ratio of 17.39, a PEG ratio of 1.03 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.64. M&T Bank has a 52 week low of $155.36 and a 52 week high of $197.37.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $3.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.35 by $0.18. M&T Bank had a return on equity of 13.15% and a net margin of 26.84%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $2.21 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 4th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, August 31st. This is a boost from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s dividend payout ratio is currently 42.78%.

In other news, Director Denis J. Salamone sold 25,209 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total transaction of $4,531,569.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.48% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in MTB. GSA Capital Partners LLP bought a new position in shares of M&T Bank during the first quarter valued at about $342,000. United Capital Financial Advisers LLC grew its stake in shares of 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 valued at $552,000 after buying an additional 394 shares during the last quarter. LPL Financial LLC grew its stake in shares of 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 valued at $1,547,000 after buying an additional 293 shares during the last quarter. Private Capital Group LLC grew its stake 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. Finally, Xact Kapitalforvaltning AB grew its stake in shares of 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 valued at $2,622,000 after buying an additional 972 shares during the last quarter. 80.58% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Call Option

Earnings History and Estimates for M&T Bank (NYSE:MTB)

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