Zacks: Analysts Anticipate M&T Bank Corporation (MTB) Will Announce Quarterly Sales of $1.42 Billion

Wall Street analysts expect M&T Bank Corporation (NYSE:MTB) to announce $1.42 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for M&T Bank’s earnings, with estimates ranging from $1.41 billion to $1.42 billion. M&T Bank reported sales of $1.34 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6%. The firm is expected to issue its next quarterly earnings report on Thursday, January 18th.

On average, analysts expect that M&T Bank will report full year sales of $1.42 billion for the current fiscal year, with estimates ranging from $5.58 billion to $5.63 billion. For the next fiscal year, analysts forecast that the firm will post sales of $5.79 billion per share, with estimates ranging from $5.73 billion to $5.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow M&T Bank.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the prior year, the firm posted $2.10 EPS.

MTB has been the topic of a number of recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $165.00 target price (down previously from $171.00) on shares of M&T Bank in a research report on Saturday, September 16th. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Robert W. Baird reissued a “sell” rating and set a $130.00 price target on shares of M&T Bank in a research report on Friday, October 6th. BidaskClub downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, Nomura boosted their price target on M&T Bank from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $162.56.

M&T Bank (NYSE:MTB) traded down $0.92 during trading hours on Friday, hitting $169.51. The company had a trading volume of 436,789 shares, compared to its average volume of 747,448. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $25,926.28, a P/E ratio of 19.62, a P/E/G ratio of 2.10 and a beta of 0.84. M&T Bank has a twelve month low of $141.12 and a twelve month high of $176.62.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 30th. M&T Bank’s dividend payout ratio is presently 34.64%.

In other news, insider Randolph Michael Kasum sold 530,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $0.08, for a total transaction of $42,400.00. Also, insider Sabeth Siddique sold 950 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $147.17, for a total value of $139,811.50. Following the sale, the insider now owns 1,488 shares of the company’s stock, valued at approximately $218,988.96. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 671,000 shares of company stock valued at $55,870 and have sold 1,690,680 shares valued at $1,903,281. Insiders own 3.18% of the company’s stock.

Several large investors have recently modified their holdings of the company. BB&T Corp boosted its stake in shares of M&T Bank by 7.2% in the third quarter. BB&T Corp now owns 29,244 shares of the financial services provider’s stock valued at $4,710,000 after buying an additional 1,952 shares during the period. Toronto Dominion Bank boosted its stake in shares of M&T Bank by 9.4% in the third quarter. Toronto Dominion Bank now owns 57,543 shares of the financial services provider’s stock valued at $9,266,000 after buying an additional 4,958 shares during the period. Huntington National Bank boosted its stake in shares of M&T Bank by 3.3% in the third quarter. Huntington National Bank now owns 97,191 shares of the financial services provider’s stock valued at $15,652,000 after buying an additional 3,098 shares during the period. Dupont Capital Management Corp bought a new stake in shares of M&T Bank in the second quarter valued at approximately $140,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of M&T Bank by 88.2% in the third quarter. BNP Paribas Arbitrage SA now owns 126,191 shares of the financial services provider’s stock valued at $20,322,000 after buying an additional 59,149 shares during the period. Institutional investors own 79.29% of the company’s stock.

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About M&T Bank

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.

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

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