Brokerages forecast that M&T Bank Co. (NYSE:MTB) will post sales of $1.50 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for M&T Bank’s earnings, with estimates ranging from $1.49 billion to $1.51 billion. M&T Bank posted sales of $1.42 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is scheduled to issue its next earnings report before the market opens 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 year, analysts expect that the company will post sales of $6.13 billion, with estimates ranging from $6.05 billion to $6.28 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow M&T Bank.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $3.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.17 by $0.09. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 24.57%. During the same period in the prior year, the firm posted $2.35 earnings per share.

Several equities research analysts have commented on MTB shares. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research note on Tuesday, June 19th. Sanford C. Bernstein upgraded M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. ValuEngine lowered M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. Jefferies Financial Group restated a “buy” rating and set a $195.00 price target on shares of M&T Bank in a research note on Friday, July 13th. Finally, Wedbush upped their price target on M&T Bank from $190.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, July 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. M&T Bank currently has an average rating of “Hold” and a consensus target price of $181.08.

NYSE:MTB traded down $1.93 on Monday, hitting $158.52. 1,086,695 shares of the stock were exchanged, compared to its average volume of 804,754. The firm has a market capitalization of $23.66 billion, a PE ratio of 16.95, a P/E/G ratio of 0.89 and a beta of 0.95. 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 fifty-two week low of $155.36 and a fifty-two week high of $197.37.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Tuesday, September 4th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from M&T Bank’s previous quarterly dividend of $0.80. M&T Bank’s dividend payout ratio (DPR) is 42.78%.

In other news, Director Denis J. Salamone sold 25,209 shares of the 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. 0.48% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Dakota Wealth Management acquired a new stake in shares of M&T Bank in the second quarter valued at about $372,000. Bank of America Corp DE grew its stake in shares of M&T Bank by 13.7% in the second quarter. Bank of America Corp DE now owns 618,080 shares of the financial services provider’s stock valued at $105,166,000 after buying an additional 74,509 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in M&T Bank by 9.1% in the second 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 last quarter. Laurion Capital Management LP purchased a new position in M&T Bank in the second quarter valued at about $3,300,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in M&T Bank in the second quarter valued at about $226,000. Institutional investors and hedge funds own 81.23% of the company’s stock.

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

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