Jefferies Group Weighs in on M&T Bank Corp.’s Q4 2016 Earnings (MTB)
M&T Bank Corp. (NYSE:MTB) – Stock analysts at Jefferies Group cut their Q4 2016 EPS estimates for M&T Bank Corp. in a research note issued to investors on Tuesday. Jefferies Group analyst K. Usdin now forecasts that the brokerage will earn $2.05 per share for the quarter, down from their previous forecast of $2.06. Jefferies Group has a “Hold” rating and a $111.00 price target on the stock. Jefferies Group also issued estimates for M&T Bank Corp.’s Q1 2017 earnings at $1.86 EPS, Q2 2017 earnings at $2.13 EPS, Q3 2017 earnings at $2.20 EPS, Q4 2017 earnings at $2.27 EPS and FY2018 earnings at $9.00 EPS.
MTB has been the subject of a number of other reports. Zacks Investment Research lowered M&T Bank Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Credit Agricole SA lifted their price objective on M&T Bank Corp. from $128.00 to $129.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd. Barclays PLC restated an “overweight” rating and set a $130.00 target price on shares of M&T Bank Corp. in a research report on Sunday, July 10th. Nomura lowered M&T Bank Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $131.00 to $103.00 in a research report on Thursday, July 7th. Finally, JPMorgan Chase & Co. boosted their target price on M&T Bank Corp. from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company. M&T Bank Corp. presently has an average rating of “Hold” and a consensus target price of $137.48.
Shares of M&T Bank Corp. (NYSE:MTB) traded down 3.05% during trading on Thursday, reaching $113.30. 756,611 shares of the company were exchanged. The stock has a 50-day moving average of $116.55 and a 200 day moving average of $116.05. M&T Bank Corp. has a 52-week low of $100.08 and a 52-week high of $127.39. The stock has a market capitalization of $17.76 billion, a P/E ratio of 15.58 and a beta of 0.75.
M&T Bank Corp. (NYSE:MTB) last announced its earnings results on Wednesday, July 20th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.08 by $0.10. The company earned $1.31 billion during the quarter, compared to the consensus estimate of $1.32 billion. M&T Bank Corp. had a net margin of 22.07% and a return on equity of 8.58%. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS.
Institutional investors have recently made changes to their positions in the stock. Euclid Advisors LLC bought a new position in shares of M&T Bank Corp. during the second quarter valued at $128,000. NEXT Financial Group Inc boosted its position in M&T Bank Corp. by 36.5% in the second quarter. NEXT Financial Group Inc now owns 1,096 shares of the company’s stock valued at $129,000 after buying an additional 293 shares during the last quarter. Investment Counselors of Maryland LLC boosted its position in M&T Bank Corp. by 3.5% in the second quarter. Investment Counselors of Maryland LLC now owns 1,484 shares of the company’s stock valued at $175,000 after buying an additional 50 shares during the last quarter. Global X Management Co. LLC boosted its position in M&T Bank Corp. by 99.3% in the second quarter. Global X Management Co. LLC now owns 1,694 shares of the company’s stock valued at $200,000 after buying an additional 844 shares during the last quarter. Finally, Burney Co. acquired a new position in M&T Bank Corp. during the second quarter valued at approximately $203,000. Institutional investors own 78.77% of the company’s stock.
In other news, VP Drew J. Pfirrman sold 3,920 shares of M&T Bank Corp. stock in a transaction on Monday, August 1st. The stock was sold at an average price of $114.44, for a total value of $448,604.80. Following the completion of the transaction, the vice president now directly owns 3,590 shares in the company, valued at $410,839.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Drew J. Pfirrman sold 500 shares of M&T Bank Corp. stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $117.47, for a total value of $58,735.00. Following the completion of the transaction, the vice president now owns 3,090 shares of the company’s stock, valued at $362,982.30. The disclosure for this sale can be found here. 3.63% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 1st were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Tuesday, August 30th. M&T Bank Corp.’s dividend payout ratio (DPR) is presently 38.41%.
About M&T Bank Corp.
M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.
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