M&T Bank Corporation to Post Q3 2017 Earnings of $2.51 Per Share, Jefferies Group Forecasts (NYSE:MTB)

M&T Bank Corporation (NYSE:MTB) – Jefferies Group issued their Q3 2017 earnings estimates for M&T Bank Corporation in a note issued to investors on Tuesday. Jefferies Group analyst K. Usdin anticipates that the bank will post earnings of $2.51 per share for the quarter. Jefferies Group has a “Buy” rating and a $186.00 price target on the stock. Jefferies Group also issued estimates for M&T Bank Corporation’s Q4 2017 earnings at $2.55 EPS.

M&T Bank Corporation (NYSE:MTB) last issued its quarterly earnings data on Monday, April 17th. The bank reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.18. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. M&T Bank Corporation had a return on equity of 9.22% and a net margin of 23.62%. During the same period in the prior year, the business posted $1.87 EPS.

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Other research analysts have also recently issued reports about the company. BidaskClub raised M&T Bank Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research cut M&T Bank Corporation from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Evercore ISI reaffirmed an “in-line” rating and set a $177.00 price objective on shares of M&T Bank Corporation in a research report on Wednesday, April 19th. Sandler O’Neill reaffirmed a “hold” rating on shares of M&T Bank Corporation in a research report on Wednesday, April 19th. Finally, Barclays PLC upped their price objective on M&T Bank Corporation from $172.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $160.64.

Shares of M&T Bank Corporation (NYSE:MTB) opened at 166.54 on Thursday. The stock has a market capitalization of $25.62 billion, a PE ratio of 20.39 and a beta of 0.77. The company’s 50 day moving average price is $159.70 and its 200-day moving average price is $159.30. M&T Bank Corporation has a 52 week low of $111.82 and a 52 week high of $173.72.

A number of hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. increased its stake in M&T Bank Corporation by 4.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 413,011 shares of the bank’s stock valued at $64,608,000 after buying an additional 17,299 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in M&T Bank Corporation during the fourth quarter valued at approximately $297,000. Kentucky Retirement Systems bought a new stake in M&T Bank Corporation during the fourth quarter valued at approximately $1,760,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in M&T Bank Corporation during the fourth quarter valued at approximately $785,000. Finally, Macquarie Group Ltd. increased its stake in M&T Bank Corporation by 14.0% in the fourth quarter. Macquarie Group Ltd. now owns 4,900 shares of the bank’s stock valued at $767,000 after buying an additional 600 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

In other M&T Bank Corporation news, insider Richard S. Gold sold 6,904 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $162.71, for a total transaction of $1,123,349.84. Following the completion of the sale, the insider now directly owns 39,326 shares of the company’s stock, valued at approximately $6,398,733.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian E. Hickey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $162.02, for a total value of $324,040.00. Following the sale, the insider now directly owns 12,169 shares of the company’s stock, valued at $1,971,621.38. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by insiders.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 1st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, May 30th. M&T Bank Corporation’s payout ratio is currently 36.67%.

About M&T Bank Corporation

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.

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

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