Zacks: Brokerages Expect M&T Bank Co. (NYSE:MTB) Will Post Earnings of $3.68 Per Share
Wall Street brokerages expect that M&T Bank Co. (NYSE:MTB) will post $3.68 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for M&T Bank’s earnings. The highest EPS estimate is $3.77 and the lowest is $3.62. M&T Bank posted earnings of $3.29 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The firm is expected to issue its next earnings results before the market opens on Thursday, July 18th.
On average, analysts expect that M&T Bank will report full year earnings of $14.63 per share for the current financial year, with EPS estimates ranging from $14.30 to $15.09. For the next financial year, analysts expect that the business will report earnings of $15.28 per share, with EPS estimates ranging from $14.85 to $15.76. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover M&T Bank.
M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business earned $2.23 EPS.
NYSE MTB opened at $167.90 on Tuesday. M&T Bank has a 12 month low of $133.78 and a 12 month high of $180.77. The company has a market cap of $22.77 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.52 and a beta of 1.07. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be 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 is Friday, May 31st. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.
In related news, insider Robert J. Bojdak sold 1,638 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $170.03, for a total value of $278,509.14. Following the completion of the transaction, the insider now directly owns 20,199 shares of the company’s stock, valued at $3,434,435.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian E. Hickey sold 4,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $168.53, for a total transaction of $674,120.00. Following the completion of the transaction, the insider now directly owns 17,819 shares of the company’s stock, valued at $3,003,036.07. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,521 shares of company stock valued at $1,594,509. 0.54% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of MTB. First Hawaiian Bank boosted its stake in M&T Bank by 111.7% during the first quarter. First Hawaiian Bank now owns 4,265 shares of the financial services provider’s stock worth $669,000 after buying an additional 2,250 shares during the period. Domani Wealth LLC purchased a new position in M&T Bank during the first quarter worth $217,000. Dupont Capital Management Corp boosted its stake in M&T Bank by 130.2% during the first quarter. Dupont Capital Management Corp now owns 4,080 shares of the financial services provider’s stock worth $641,000 after buying an additional 2,308 shares during the period. National Asset Management Inc. boosted its stake in M&T Bank by 21.9% during the first quarter. National Asset Management Inc. now owns 2,503 shares of the financial services provider’s stock worth $394,000 after buying an additional 450 shares during the period. Finally, Wakefield Asset Management LLLP purchased a new position in M&T Bank during the first quarter worth $3,301,000. 81.60% of the stock is owned by hedge funds and other institutional investors.
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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