Jefferies Group Analysts Reduce Earnings Estimates for M&T Bank Corporation (MTB)

M&T Bank Corporation (NYSE:MTB) – Research analysts at Jefferies Group decreased their Q4 2017 earnings estimates for shares of M&T Bank Corporation in a research report issued on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the bank will post earnings of $2.48 per share for the quarter, down from their previous forecast of $2.50. Jefferies Group has a “Buy” rating and a $186.00 price objective on the stock. Jefferies Group also issued estimates for M&T Bank Corporation’s Q1 2018 earnings at $2.31 EPS, Q2 2018 earnings at $2.51 EPS, Q3 2018 earnings at $2.59 EPS and Q4 2018 earnings at $2.65 EPS.

Other equities analysts have also recently issued reports about the stock. ValuEngine upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. BidaskClub upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Royal Bank Of Canada restated a “buy” rating and issued a $168.00 price target on shares of M&T Bank Corporation in a research report on Friday, August 18th. Zacks Investment Research upgraded shares of M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $168.00 price target for the company in a research report on Tuesday, September 19th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $155.00 price target (up from $152.00) on shares of M&T Bank Corporation in a research report on Friday, July 7th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. M&T Bank Corporation currently has an average rating of “Hold” and an average target price of $160.21.

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M&T Bank Corporation (NYSE:MTB) traded down 0.01% during trading on Wednesday, reaching $162.81. The company’s stock had a trading volume of 104,304 shares. The company has a market capitalization of $24.74 billion, a PE ratio of 19.06 and a beta of 0.78. M&T Bank Corporation has a 52 week low of $113.42 and a 52 week high of $173.72. The company has a 50 day moving average price of $154.02 and a 200-day moving average price of $157.66.

M&T Bank Corporation (NYSE:MTB) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $2.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.08. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. M&T Bank Corporation had a return on equity of 9.48% and a net margin of 24.10%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 earnings per share.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.84%. The ex-dividend date was Wednesday, August 30th. M&T Bank Corporation’s dividend payout ratio is presently 35.09%.

M&T Bank Corporation declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $900.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

In related news, insider Sabeth Siddique sold 950 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total transaction of $139,811.50. Following the transaction, the insider now directly owns 1,488 shares of the company’s stock, valued at $218,988.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michele D. Trolli sold 8,908 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $164.25, for a total transaction of $1,463,139.00. Following the transaction, the vice president now directly owns 23,091 shares in the company, valued at $3,792,696.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,058 shares of company stock worth $1,799,055. 3.18% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Nova Scotia boosted its stake in M&T Bank Corporation by 900.4% during the first quarter. Bank of Nova Scotia now owns 35,275 shares of the bank’s stock worth $5,458,000 after acquiring an additional 31,749 shares in the last quarter. Paloma Partners Management Co boosted its stake in M&T Bank Corporation by 109.3% during the first quarter. Paloma Partners Management Co now owns 18,601 shares of the bank’s stock worth $2,878,000 after acquiring an additional 9,714 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in M&T Bank Corporation by 1.8% during the second quarter. Xact Kapitalforvaltning AB now owns 11,392 shares of the bank’s stock worth $1,845,000 after acquiring an additional 202 shares in the last quarter. Huntington National Bank boosted its stake in M&T Bank Corporation by 15.3% during the second quarter. Huntington National Bank now owns 94,093 shares of the bank’s stock worth $15,239,000 after acquiring an additional 12,461 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in M&T Bank Corporation by 2.9% during the second quarter. Janney Montgomery Scott LLC now owns 26,778 shares of the bank’s stock worth $4,337,000 after acquiring an additional 758 shares in the last quarter. 78.35% of the stock is currently owned by institutional investors and hedge funds.

About M&T Bank Corporation

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

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

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