M&T Bank Co. Forecasted to Post Q2 2019 Earnings of $3.68 Per Share (MTB)

M&T Bank Co. (NYSE:MTB) – Stock analysts at Wedbush issued their Q2 2019 earnings estimates for shares of M&T Bank in a research note issued to investors on Tuesday, April 16th. Wedbush analyst P. Winter expects that the financial services provider will post earnings per share of $3.68 for the quarter. Wedbush has a “Neutral” rating and a $155.00 price objective on the stock. Wedbush also issued estimates for M&T Bank’s Q3 2019 earnings at $3.77 EPS, Q4 2019 earnings at $3.93 EPS, FY2019 earnings at $14.74 EPS and FY2020 earnings at $15.61 EPS.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.05. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. The firm 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 company earned $2.23 EPS.

Other analysts also recently issued research reports about the company. Barclays reiterated a “buy” rating and issued a $217.00 price objective on shares of M&T Bank in a research report on Wednesday. UBS Group set a $169.00 price objective on M&T Bank and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Robert W. Baird downgraded M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price objective for the company. in a research report on Thursday, February 21st. Finally, Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $179.25.

Shares of MTB stock opened at $168.48 on Thursday. 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 has a 12 month low of $133.78 and a 12 month high of $187.07. The company has a market capitalization of $22.67 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.50 and a beta of 1.05.

Several institutional investors have recently bought and sold shares of the stock. Carroll Financial Associates Inc. lifted its position in shares of M&T Bank by 575.0% during the 1st quarter. Carroll Financial Associates Inc. now owns 675 shares of the financial services provider’s stock worth $105,000 after buying an additional 575 shares during the period. Nisa Investment Advisors LLC increased its holdings in M&T Bank by 8.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 77,791 shares of the financial services provider’s stock valued at $12,215,000 after purchasing an additional 6,100 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in M&T Bank by 4.9% during the 1st quarter. DAVENPORT & Co LLC now owns 2,481 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 116 shares in the last quarter. Culbertson A N & Co. Inc. increased its holdings in M&T Bank by 4.1% during the 1st quarter. Culbertson A N & Co. Inc. now owns 2,305 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 90 shares in the last quarter. Finally, Berkshire Asset Management LLC PA increased its holdings in M&T Bank by 0.4% during the 1st quarter. Berkshire Asset Management LLC PA now owns 177,504 shares of the financial services provider’s stock valued at $27,872,000 after purchasing an additional 791 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

In related news, VP Michele D. Trolli sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now owns 10,878 shares in the company, valued at approximately $1,883,416.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sabeth Siddique sold 365 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $165.67, for a total value of $60,469.55. Following the transaction, the insider now owns 1,464 shares of the company’s stock, valued at approximately $242,540.88. The disclosure for this sale can be found here. Insiders have sold a total of 17,766 shares of company stock valued at $2,977,668 in the last 90 days. 0.54% of the stock is owned by corporate insiders.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.00 per share. The ex-dividend date was Friday, March 1st. This represents a $4.00 annualized dividend and a dividend yield of 2.37%. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.

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 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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