M&T Bank Co. (NYSE:MTB) – Analysts at Wedbush raised their Q1 2021 earnings estimates for M&T Bank in a research report issued on Tuesday, April 6th. Wedbush analyst P. Winter now expects that the financial services provider will post earnings per share of $3.00 for the quarter, up from their prior forecast of $2.97. Wedbush also issued estimates for M&T Bank’s FY2021 earnings at $12.04 EPS.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, January 20th. The financial services provider reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.49. M&T Bank had a return on equity of 9.45% and a net margin of 21.49%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm posted $3.60 earnings per share.

MTB has been the topic of a number of other reports. Barclays upped their price objective on M&T Bank from $159.00 to $163.00 and gave the company an “overweight” rating in a report on Monday, January 4th. Bank of America upgraded M&T Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 7th. Royal Bank of Canada upped their price target on M&T Bank from $150.00 to $166.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Deutsche Bank Aktiengesellschaft upped their price target on M&T Bank from $161.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, April 1st. Finally, Wells Fargo & Company upped their price target on M&T Bank from $150.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, March 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $137.83.

MTB opened at $153.02 on Wednesday. M&T Bank has a one year low of $85.09 and a one year high of $164.72. The stock has a market capitalization of $19.68 billion, a PE ratio of 15.27 and a beta of 1.23. The business’s 50 day moving average price is $153.24 and its 200 day moving average price is $128.39. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07.

Large investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its holdings in M&T Bank by 7.7% in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in M&T Bank by 18.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,504 shares of the financial services provider’s stock valued at $2,737,000 after buying an additional 3,392 shares during the last quarter. Hollencrest Capital Management purchased a new position in M&T Bank in the fourth quarter valued at $246,000. MARSHALL WACE ASIA Ltd purchased a new position in M&T Bank in the fourth quarter valued at $2,216,000. Finally, Glenview Trust Co increased its holdings in M&T Bank by 11.7% in the fourth quarter. Glenview Trust Co now owns 3,335 shares of the financial services provider’s stock valued at $425,000 after buying an additional 350 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 1st were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, February 26th. M&T Bank’s dividend payout ratio (DPR) is presently 32.00%.

M&T Bank declared that its board has approved a stock repurchase plan on Wednesday, January 20th that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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

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