Analysts Anticipate M&T Bank Co. (NYSE:MTB) Will Post Quarterly Sales of $1.46 Billion

Equities research analysts predict that M&T Bank Co. (NYSE:MTB) will post $1.46 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for M&T Bank’s earnings, with estimates ranging from $1.44 billion to $1.48 billion. M&T Bank also reported sales of $1.46 billion during the same quarter last year. The company is expected to announce its next earnings report on Thursday, October 28th.

According to Zacks, analysts expect that M&T Bank will report full year sales of $6.25 billion for the current year, with estimates ranging from $5.92 billion to $6.41 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.70 billion, with estimates ranging from $7.57 billion to $7.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for M&T Bank.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $3.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.70 by ($0.29). M&T Bank had a return on equity of 10.39% and a net margin of 24.89%. During the same quarter last year, the firm posted $1.76 EPS.

Several analysts have recently commented on the stock. Citigroup assumed coverage on shares of M&T Bank in a research note on Friday, July 16th. They issued a “hold” rating and a $141.19 target price for the company. Morgan Stanley raised their target price on shares of M&T Bank from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. Keefe, Bruyette & Woods upgraded shares of M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 7th. Wedbush reduced their target price on shares of M&T Bank from $171.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on shares of M&T Bank from $168.00 to $155.00 and set an “equal weight” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $159.32.

Shares of MTB stock traded down $3.46 during mid-day trading on Friday, hitting $129.59. The stock had a trading volume of 17,941 shares, compared to its average volume of 870,981. M&T Bank has a fifty-two week low of $88.48 and a fifty-two week high of $168.27. The firm has a market cap of $16.67 billion, a price-to-earnings ratio of 11.73 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $151.55.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 1st were issued a dividend of $1.10 per share. The ex-dividend date was Friday, May 28th. This represents a $4.40 annualized dividend and a yield of 3.40%. M&T Bank’s dividend payout ratio (DPR) is currently 43.91%.

In other news, EVP Michele D. Trolli sold 4,967 shares of M&T Bank stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $155.74, for a total transaction of $773,560.58. Following the completion of the sale, the executive vice president now directly owns 10,622 shares in the company, valued at $1,654,270.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP D Scott N. Warman sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 3rd. The stock was sold at an average price of $163.00, for a total transaction of $652,000.00. Following the completion of the sale, the executive vice president now directly owns 14,486 shares in the company, valued at $2,361,218. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. boosted its position in shares of M&T Bank by 5.3% in the first quarter. Royal London Asset Management Ltd. now owns 50,124 shares of the financial services provider’s stock worth $7,599,000 after acquiring an additional 2,538 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in M&T Bank by 7.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 27,834 shares of the financial services provider’s stock valued at $3,543,000 after buying an additional 2,000 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in M&T Bank during the fourth quarter valued at approximately $2,216,000. QS Investors LLC acquired a new position in M&T Bank during the first quarter valued at approximately $220,000. Finally, Bessemer Group Inc. lifted its position in M&T Bank by 5.5% during the first quarter. Bessemer Group Inc. now owns 4,180 shares of the financial services provider’s stock valued at $634,000 after buying an additional 219 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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

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