Todays Report: Today: M&T Bank Corp. (MTB) to Release Quarterly Earnings on Wednesday

Today: M&T Bank Corp. (MTB) to Release Quarterly Earnings on Wednesday

M&T Bank Corp. (NYSE:MTB) is set to announce its Q316 earnings results on Wednesday, October 19th. Analysts expect the company to announce earnings of $2.05 per share and revenue of $1.33 billion for the quarter.

M&T Bank Corp. (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by $0.10. M&T Bank Corp. had a return on equity of 8.58% and a net margin of 22.07%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The company’s revenue was up 11.2% compared to the same quarter last year. On average, analysts expect M&T Bank Corp. to post $7.96 EPS for the current fiscal year and $8.59 EPS for the next fiscal year.

M&T Bank Corp. (NYSE:MTB) opened at 113.87 on Monday. The stock’s 50 day moving average is $116.34 and its 200-day moving average is $116.04. M&T Bank Corp. has a 52 week low of $100.08 and a 52 week high of $127.39. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 15.66 and a beta of 0.75.

The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 1st were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Tuesday, August 30th. M&T Bank Corp.’s payout ratio is 38.41%.

In other news, insider Brian E. Hickey sold 6,017 shares of M&T Bank Corp. stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $117.45, for a total value of $706,696.65. Following the transaction, the insider now owns 17,905 shares of the company’s stock, valued at approximately $2,102,942.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert G. Wilmers sold 39,637 shares of M&T Bank Corp. stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $118.38, for a total transaction of $4,692,228.06. Following the completion of the transaction, the chief executive officer now directly owns 2,490,996 shares in the company, valued at approximately $294,884,106.48. The disclosure for this sale can be found here. 3.63% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Euclid Advisors LLC purchased a new position in shares of M&T Bank Corp. during the second quarter valued at approximately $128,000. Burney Co. purchased a new position in shares of M&T Bank Corp. during the second quarter valued at approximately $203,000. Menta Capital LLC purchased a new position in shares of M&T Bank Corp. during the second quarter valued at approximately $224,000. Advisor Group Inc. purchased a new position in shares of M&T Bank Corp. during the second quarter valued at approximately $226,000. Finally, Wetherby Asset Management Inc. boosted its position in shares of M&T Bank Corp. by 0.6% in the second quarter. Wetherby Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $234,000 after buying an additional 12 shares during the last quarter. 78.77% of the stock is currently owned by institutional investors.

MTB has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of M&T Bank Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Deutsche Bank AG reiterated a “hold” rating on shares of M&T Bank Corp. in a research note on Sunday, June 26th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $119.00 price objective (down from $121.00) on shares of M&T Bank Corp. in a research note on Tuesday, July 5th. Nomura downgraded shares of M&T Bank Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $131.00 to $103.00 in a research note on Thursday, July 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of M&T Bank Corp. from $120.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $137.48.

M&T Bank Corp. Company Profile

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