M&T Bank Co. (NYSE:MTB) – Stock analysts at Wedbush raised their Q4 2018 earnings per share estimates for M&T Bank in a report released on Thursday, October 18th. Wedbush analyst P. Winter now forecasts that the financial services provider will post earnings per share of $3.51 for the quarter, up from their previous forecast of $3.50. Wedbush has a “Hold” rating and a $188.00 price target on the stock. Wedbush also issued estimates for M&T Bank’s Q1 2019 earnings at $3.20 EPS, Q2 2019 earnings at $3.61 EPS, Q3 2019 earnings at $3.76 EPS, Q4 2019 earnings at $3.86 EPS, FY2019 earnings at $14.43 EPS and FY2020 earnings at $15.48 EPS.
A number of other analysts have also commented on the company. Keefe, Bruyette & Woods raised M&T Bank from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Monday, September 3rd. Zacks Investment Research lowered M&T Bank from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Goldman Sachs Group raised M&T Bank from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 26th. Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating in a research note on Monday, October 1st. They noted that the move was a valuation call. Finally, Morgan Stanley cut their price objective on M&T Bank from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $180.75.
M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $3.53 EPS for the quarter, beating the Zacks’ consensus estimate of $3.35 by $0.18. M&T Bank had a return on equity of 13.15% and a net margin of 26.84%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm posted $2.21 earnings per share.
A number of hedge funds have recently modified their holdings of MTB. GSA Capital Partners LLP bought a new stake in M&T Bank in the first quarter worth approximately $342,000. United Capital Financial Advisers LLC increased its holdings in shares of M&T Bank by 15.2% during the first quarter. United Capital Financial Advisers LLC now owns 2,994 shares of the financial services provider’s stock valued at $552,000 after acquiring an additional 394 shares in the last quarter. LPL Financial LLC increased its holdings in shares of M&T Bank by 3.6% during the first quarter. LPL Financial LLC now owns 8,392 shares of the financial services provider’s stock valued at $1,547,000 after acquiring an additional 293 shares in the last quarter. Private Capital Group LLC increased its holdings in shares of M&T Bank by 728.4% during the first quarter. Private Capital Group LLC now owns 613 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 539 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of M&T Bank by 7.3% during the first quarter. Xact Kapitalforvaltning AB now owns 14,221 shares of the financial services provider’s stock valued at $2,622,000 after acquiring an additional 972 shares in the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.
In other M&T Bank news, Director Denis J. Salamone sold 25,209 shares of M&T Bank stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total value of $4,531,569.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 4th were paid a $1.00 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, August 31st. M&T Bank’s payout ratio is currently 42.78%.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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