M&T Bank (MTB) Set to Announce Earnings on Thursday

M&T Bank (NYSE:MTB) is scheduled to release its earnings data before the market opens on Thursday, October 17th. Analysts expect M&T Bank to post earnings of $3.61 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the previous year, the firm posted $5.12 earnings per share. On average, analysts expect M&T Bank to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

M&T Bank Trading Up 0.2 %

NYSE MTB opened at $185.56 on Tuesday. The company has a market capitalization of $30.96 billion, a PE ratio of 12.55, a P/E/G ratio of 3.27 and a beta of 0.75. The company has a fifty day moving average of $170.39 and a 200 day moving average of $157.49. M&T Bank has a 1 year low of $108.53 and a 1 year high of $186.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.91%. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now directly owns 15,045 shares in the company, valued at $2,617,378.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares in the company, valued at approximately $2,617,378.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 in the last ninety days. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MTB. Wedbush lifted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Royal Bank of Canada lifted their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Friday, October 4th. Piper Sandler lifted their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Morgan Stanley lifted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $185.75.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.