M&T Bank Co. Expected to Earn Q2 2019 Earnings of $3.65 Per Share (MTB)

M&T Bank Co. (NYSE:MTB) – Equities researchers at Piper Jaffray Companies upped their Q2 2019 EPS estimates for M&T Bank in a research report issued on Monday, April 15th. Piper Jaffray Companies analyst K. Barker now anticipates that the financial services provider will post earnings per share of $3.65 for the quarter, up from their previous forecast of $3.63. Piper Jaffray Companies also issued estimates for M&T Bank’s Q3 2019 earnings at $3.76 EPS, FY2019 earnings at $14.48 EPS, Q1 2020 earnings at $3.34 EPS, Q2 2020 earnings at $3.82 EPS, Q3 2020 earnings at $3.95 EPS, Q4 2020 earnings at $3.94 EPS and FY2020 earnings at $15.05 EPS.

Several other research analysts also recently commented on MTB. Barclays reissued a “buy” rating and set a $217.00 price objective on shares of M&T Bank in a report on Wednesday. Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Friday, March 29th. UBS Group set a $169.00 price objective on shares of M&T Bank and gave the company a “hold” rating in a report on Tuesday, April 2nd. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Wedbush set a $165.00 price target on shares of M&T Bank and gave the company a “hold” rating in a report on Friday, January 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $179.25.

MTB opened at $168.28 on Wednesday. M&T Bank has a 52 week low of $133.78 and a 52 week high of $187.07. The stock has a market cap of $22.67 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 1.50 and a beta of 1.05. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, beating the consensus estimate of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the firm earned $2.23 EPS.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is 31.10%.

In other M&T Bank news, insider Sabeth Siddique sold 365 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of $165.67, for a total value of $60,469.55. Following the completion of the sale, the insider now owns 1,464 shares of the company’s stock, valued at $242,540.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michele D. Trolli sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $173.14, for a total transaction of $865,700.00. Following the completion of the sale, the vice president now directly owns 10,878 shares of the company’s stock, valued at approximately $1,883,416.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,766 shares of company stock valued at $2,977,668. 0.54% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in M&T Bank by 2.3% in the fourth quarter. BlackRock Inc. now owns 10,220,602 shares of the financial services provider’s stock worth $1,462,876,000 after purchasing an additional 234,015 shares during the last quarter. FMR LLC lifted its stake in M&T Bank by 74.1% in the fourth quarter. FMR LLC now owns 5,947,002 shares of the financial services provider’s stock worth $851,195,000 after purchasing an additional 2,532,038 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in M&T Bank by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 5,761,927 shares of the financial services provider’s stock worth $948,067,000 after purchasing an additional 43,529 shares during the last quarter. Geode Capital Management LLC lifted its stake in M&T Bank by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 2,013,252 shares of the financial services provider’s stock worth $287,704,000 after purchasing an additional 95,142 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in M&T Bank by 1.4% in the fourth quarter. Northern Trust Corp now owns 1,500,637 shares of the financial services provider’s stock worth $214,785,000 after purchasing an additional 21,031 shares during the last quarter. 80.81% of the stock is owned by institutional investors and hedge funds.

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 banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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