Jefferies Financial Group Analysts Increase Earnings Estimates for M&T Bank Co. (NYSE:MTB)

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M&T Bank Co. (NYSE:MTB) – Equities research analysts at Jefferies Financial Group boosted their Q2 2019 EPS estimates for M&T Bank in a report released on Tuesday, July 9th. Jefferies Financial Group analyst K. Usdin now anticipates that the financial services provider will earn $3.70 per share for the quarter, up from their previous forecast of $3.66.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the company posted $2.23 EPS.

A number of other brokerages have also recently commented on MTB. Wedbush lifted their price objective on shares of Wintrust Financial from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Gilead Sciences in a research note on Tuesday, July 2nd. Zacks Investment Research cut shares of First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Barclays set a $24.00 price objective on shares of Tenet Healthcare and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, UBS Group lifted their price objective on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. M&T Bank has an average rating of “Hold” and an average target price of $176.67.

Shares of NYSE:MTB opened at $174.07 on Friday. M&T Bank has a 52 week low of $133.78 and a 52 week high of $180.77. The stock has a market cap of $23.74 billion, a PE ratio of 13.54, a P/E/G ratio of 1.59 and a beta of 1.06. The business has a fifty day simple moving average of $167.45. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a $1.00 dividend. The ex-dividend date was Friday, May 31st. This represents a $4.00 annualized dividend and a dividend yield of 2.30%. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.

In other news, insider Doris P. Meister sold 460 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $160.29, for a total value of $73,733.40. Following the completion of the sale, the insider now owns 1,553 shares in the company, valued at approximately $248,930.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian E. Hickey sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $168.53, for a total transaction of $674,120.00. Following the completion of the sale, the insider now owns 17,819 shares of the company’s stock, valued at approximately $3,003,036.07. The disclosure for this sale can be found here. Insiders sold a total of 9,521 shares of company stock valued at $1,594,509 in the last 90 days. Company insiders own 0.54% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. lifted its holdings in M&T Bank by 13.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 608 shares of the financial services provider’s stock valued at $87,000 after buying an additional 73 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in M&T Bank by 2.1% during the 4th quarter. Nuveen Asset Management LLC now owns 3,656 shares of the financial services provider’s stock valued at $523,000 after buying an additional 76 shares in the last quarter. UMB Bank N A MO lifted its holdings in M&T Bank by 4.1% during the 1st quarter. UMB Bank N A MO now owns 2,124 shares of the financial services provider’s stock valued at $334,000 after buying an additional 83 shares in the last quarter. Culbertson A N & Co. Inc. lifted its holdings in M&T Bank by 4.1% during the 1st quarter. Culbertson A N & Co. Inc. now owns 2,305 shares of the financial services provider’s stock valued at $362,000 after buying an additional 90 shares in the last quarter. Finally, Securian Asset Management Inc lifted its holdings in M&T Bank by 0.7% during the 1st quarter. Securian Asset Management Inc now owns 14,316 shares of the financial services provider’s stock valued at $2,248,000 after buying an additional 100 shares in the last quarter. Institutional investors own 81.52% 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 banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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