Jefferies Financial Group Weighs in on M&T Bank Co.’s FY2021 Earnings (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) – Investment analysts at Jefferies Financial Group lowered their FY2021 earnings per share (EPS) estimates for M&T Bank in a note issued to investors on Sunday, October 10th. Jefferies Financial Group analyst K. Usdin now expects that the financial services provider will post earnings per share of $13.08 for the year, down from their prior estimate of $13.13. Jefferies Financial Group currently has a “Hold” rating and a $172.00 target price on the stock. Jefferies Financial Group also issued estimates for M&T Bank’s Q4 2021 earnings at $2.99 EPS, Q3 2023 earnings at $3.79 EPS and FY2023 earnings at $14.35 EPS.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $3.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.29). M&T Bank had a return on equity of 11.70% and a net margin of 28.58%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm earned $1.76 earnings per share.

MTB has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 7th. Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research note on Thursday, September 30th. Wedbush cut their target price on M&T Bank from $171.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday, July 22nd. Wells Fargo & Company cut their target price on M&T Bank from $168.00 to $155.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 22nd. Finally, Citigroup initiated coverage on M&T Bank in a research note on Friday, July 16th. They issued a “hold” rating and a $141.19 price objective on the stock. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $159.99.

MTB opened at $149.23 on Wednesday. The stock has a market cap of $19.20 billion, a price-to-earnings ratio of 11.58 and a beta of 1.20. The stock’s 50 day moving average price is $141.52 and its 200-day moving average price is $147.80. M&T Bank has a one year low of $94.67 and a one year high of $168.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06.

A number of institutional investors have recently bought and sold shares of MTB. Marshall Wace LLP lifted its holdings in M&T Bank by 355.8% during the first quarter. Marshall Wace LLP now owns 2,147 shares of the financial services provider’s stock worth $337,000 after buying an additional 1,676 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in M&T Bank by 1,696.6% during the first quarter. Rockefeller Capital Management L.P. now owns 6,324 shares of the financial services provider’s stock worth $958,000 after buying an additional 5,972 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in M&T Bank by 54.6% during the first quarter. Mercer Global Advisors Inc. ADV now owns 4,546 shares of the financial services provider’s stock worth $690,000 after buying an additional 1,605 shares during the period. Sei Investments Co. lifted its holdings in shares of M&T Bank by 15.9% during the 1st quarter. Sei Investments Co. now owns 38,544 shares of the financial services provider’s stock valued at $5,787,000 after purchasing an additional 5,302 shares during the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of M&T Bank by 4.8% during the 1st quarter. Norinchukin Bank The now owns 3,966 shares of the financial services provider’s stock valued at $601,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 85.09% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 1st were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $4.40 dividend on an annualized basis and a yield of 2.95%. M&T Bank’s dividend payout ratio is currently 43.91%.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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

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