Equities analysts expect M&T Bank Co. (NYSE:MTB) to post sales of $1.50 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for M&T Bank’s earnings. The lowest sales estimate is $1.50 billion and the highest is $1.51 billion. M&T Bank posted sales of $1.42 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The business is scheduled to announce its next earnings results on Wednesday, October 17th.

On average, analysts expect that M&T Bank will report full year sales of $5.92 billion for the current financial year, with estimates ranging from $5.88 billion to $5.95 billion. For the next fiscal year, analysts forecast that the business will report sales of $6.12 billion per share, with estimates ranging from $6.04 billion to $6.27 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for M&T Bank.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.17 by $0.09. M&T Bank had a net margin of 24.57% and a return on equity of 11.80%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the prior year, the company earned $2.35 EPS.

MTB has been the subject of several research reports. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $195.00 price target on shares of M&T Bank in a research report on Friday, July 13th. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $206.00 price target for the company in a research report on Friday, May 18th. Keefe, Bruyette & Woods raised shares of M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Monday. Finally, Sanford C. Bernstein raised shares of M&T Bank from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 27th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $176.13.

In related news, Director Denis J. Salamone sold 25,209 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $179.76, for a total transaction of $4,531,569.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in M&T Bank by 1.6% during the 1st quarter. BlackRock Inc. now owns 10,468,230 shares of the financial services provider’s stock valued at $1,929,921,000 after purchasing an additional 160,326 shares in the last quarter. FMR LLC increased its stake in M&T Bank by 7.5% during the 2nd quarter. FMR LLC now owns 4,251,775 shares of the financial services provider’s stock valued at $723,439,000 after purchasing an additional 297,143 shares in the last quarter. Wells Fargo & Company MN increased its stake in M&T Bank by 0.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,635,462 shares of the financial services provider’s stock valued at $301,514,000 after purchasing an additional 6,330 shares in the last quarter. Millennium Management LLC increased its stake in M&T Bank by 64.8% during the 2nd quarter. Millennium Management LLC now owns 1,341,236 shares of the financial services provider’s stock valued at $228,211,000 after purchasing an additional 527,556 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in M&T Bank by 6.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 815,318 shares of the financial services provider’s stock valued at $150,311,000 after purchasing an additional 52,657 shares in the last quarter. Hedge funds and other institutional investors own 81.21% of the company’s stock.

Shares of MTB traded up $0.15 during mid-day trading on Tuesday, hitting $178.79. The company’s stock had a trading volume of 44,989 shares, compared to its average volume of 690,704. M&T Bank has a 52-week low of $141.12 and a 52-week high of $197.37. The stock has a market capitalization of $25.84 billion, a PE ratio of 19.11, a PEG ratio of 0.97 and a beta of 0.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.06.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 4th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, August 31st. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s payout ratio is 42.78%.

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 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.

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

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