$1.46 Billion in Sales Expected for M&T Bank Co. (NYSE:MTB) This Quarter


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Wall Street brokerages predict that M&T Bank Co. (NYSE:MTB) will post $1.46 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for M&T Bank’s earnings. The lowest sales estimate is $1.45 billion and the highest is $1.47 billion. M&T Bank posted sales of $1.53 billion in the same quarter last year, which would indicate a negative year over year growth rate of 4.6%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, January 21st.

According to Zacks, analysts expect that M&T Bank will report full-year sales of $5.88 billion for the current financial year, with estimates ranging from $5.87 billion to $5.90 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.76 billion, with estimates ranging from $5.66 billion to $5.85 billion. Zacks’ sales averages are an average based on a survey of analysts that follow M&T Bank.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.14. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. M&T Bank had a return on equity of 9.45% and a net margin of 21.49%. During the same quarter in the previous year, the firm earned $3.50 earnings per share.

MTB has been the topic of a number of recent analyst reports. Wolfe Research lowered M&T Bank from a “market perform” rating to an “underperform” rating in a research note on Thursday, October 8th. Morgan Stanley boosted their price target on M&T Bank from $145.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 7th. Bank of America upgraded M&T Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price target on M&T Bank from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, January 6th. Finally, TheStreet upgraded M&T Bank from a “c+” rating to a “b-” rating in a research note on Tuesday, November 17th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $131.80.

Shares of M&T Bank stock traded down $2.94 during trading on Wednesday, reaching $146.71. The company’s stock had a trading volume of 873,620 shares, compared to its average volume of 1,038,425. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.07. The business’s fifty day moving average price is $128.21 and its 200-day moving average price is $109.86. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 14.64 and a beta of 1.22. M&T Bank has a one year low of $85.09 and a one year high of $174.00.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Monday, November 30th. M&T Bank’s payout ratio is currently 32.00%.

In other M&T Bank news, Director Denis J. Salamone sold 16,394 shares of the company’s stock in a transaction on Monday, December 7th. The stock was sold at an average price of $127.19, for a total transaction of $2,085,152.86. Following the transaction, the director now owns 71,776 shares of the company’s stock, valued at approximately $9,129,189.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of MTB. Charles Schwab Investment Management Inc. lifted its holdings in M&T Bank by 151.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,533,768 shares of the financial services provider’s stock worth $159,467,000 after buying an additional 923,381 shares in the last quarter. Prudential PLC bought a new stake in shares of M&T Bank during the 3rd quarter valued at $71,922,000. BlackRock Inc. raised its position in shares of M&T Bank by 4.3% during the 3rd quarter. BlackRock Inc. now owns 10,765,343 shares of the financial services provider’s stock valued at $991,379,000 after acquiring an additional 440,050 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of M&T Bank during the 2nd quarter valued at $31,687,000. Finally, State Street Corp raised its position in shares of M&T Bank by 4.8% during the 3rd quarter. State Street Corp now owns 6,527,766 shares of the financial services provider’s stock valued at $601,142,000 after acquiring an additional 297,979 shares during the last quarter. 75.94% of the stock is currently 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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Earnings History and Estimates for M&T Bank (NYSE:MTB)

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