Equities analysts expect that M&T Bank Co. (NYSE:MTB) will report sales of $1.50 billion for the current fiscal quarter, Zacks reports. Four analysts have made estimates for M&T Bank’s earnings, with the lowest sales estimate coming in at $1.50 billion and the highest estimate coming in at $1.51 billion. M&T Bank reported sales of $1.42 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The firm is scheduled to report its next earnings results on Wednesday, October 17th.
According to Zacks, analysts expect that M&T Bank will report full year sales of $5.92 billion for the current year, with estimates ranging from $5.88 billion to $5.95 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.12 billion per share, with estimates ranging from $6.04 billion to $6.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for M&T Bank.
M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.17 by $0.09. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company posted $2.35 earnings per share.
In other news, Director Denis J. Salamone sold 25,209 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $179.76, for a total value of $4,531,569.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Dakota Wealth Management purchased a new position in M&T Bank during the 2nd quarter valued at about $372,000. Nissay Asset Management Corp Japan ADV increased its holdings in M&T Bank by 9.1% during the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 10,243 shares of the financial services provider’s stock valued at $1,743,000 after purchasing an additional 854 shares during the period. Burney Co. increased its holdings in M&T Bank by 26.8% during the 2nd quarter. Burney Co. now owns 2,203 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 465 shares during the period. Signition LP purchased a new position in M&T Bank during the 2nd quarter valued at about $834,000. Finally, Global Financial Private Capital LLC purchased a new position in M&T Bank during the 2nd quarter valued at about $371,000. Institutional investors own 81.20% of the company’s stock.
Shares of MTB stock opened at $172.88 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 1.06. M&T Bank has a 12-month low of $153.09 and a 12-month high of $197.37. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 0.91 and a beta of 0.92.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s payout ratio is 42.78%.
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 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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