Zacks: Analysts Expect M&T Bank Co. (NYSE: MTB) to Post Quarterly Sales of $1.46 Billion


Analysts expect M&T Bank Co. (NYSE:MTB – Get Rating) to report sales of $1.46 billion for the current quarter, according to Zacks. Fifteen analysts provided earnings estimates for M&T Bank, with estimates ranging from $1.41 billion to $1.87 billion. M&T Bank reported sales of $1.49 billion in the same quarter last year, which would indicate a negative 2% year-over-year growth rate. The company is expected to release its next results before the market opens on Monday, January 1.

According to Zacks, analysts expect M&T Bank to report annual revenue of $7.32 billion for the current fiscal year, with estimates ranging from $5.90 billion to $7.85 billion. of dollars. For the next fiscal year, analysts expect the company to post sales of $8.29 billion, with estimates ranging from $6.41 billion to $8.99 billion. Zacks’ sell calculations are an average based on a survey of sell-side analysts who provide coverage for M&T Bank.

M&T Bank (NYSE:MTB – Get Rating) last released its quarterly results on Wednesday, April 20. The financial services provider reported earnings per share of $2.62 for the quarter, beating the Zacks consensus estimate of $2.38 by $0.24. M&T Bank had a return on equity of 12.14% and a net margin of 30.44%. In the same quarter a year earlier, the company posted earnings per share of $3.41.

A number of research companies have recently published reports on mountain biking. JPMorgan Chase & Co. began covering M&T Bank shares in a research report on Thursday, April 14. They set a “neutral” rating on the stock. StockNews.com upgraded M&T Bank shares from a “sell” rating to a “hold” rating in a Wednesday, March 2 research report. Deutsche Bank Aktiengesellschaft raised its price target on M&T Bank shares from $180.00 to $200.00 in a Friday, March 25 research report. Piper Sandler raised her price target on M&T Bank shares from $200.00 to $210.00 in a research report on Wednesday. Finally, Morgan Stanley cut M&T Bank shares from an “equal weight” rating to an “underweight” rating and lowered its price target for the company from $185.00 to $179.00 in a research report from Monday, March 28. One equity research analyst gave the stock a sell rating, eight issued a hold rating and five issued a buy rating for the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $182.44.

Several hedge funds have recently changed their holdings in the company. Bank of New Hampshire bought a new position in M&T Bank in Q1, valued at around $34,000. Marcum Wealth LLC bought a new position in M&T Bank in Q1 worth approximately $246,000. First United Bank & Trust increased its stake in M&T Bank by 2.2% in the 1st quarter. First United Bank & Trust now owns 6,248 shares of the financial services provider valued at $1,059,000 after buying an additional 132 shares last quarter. Xponance Inc. increased its stake in M&T Bank by 2.6% in the 1st quarter. Xponance Inc. now owns 8,380 shares of the financial services provider valued at $1,420,000 after buying 213 additional shares last quarter. Finally, JGP Wealth Management LLC increased its stake in M&T Bank by 14.7% in the 1st quarter. JGP Wealth Management LLC now owns 8,925 shares of the financial services provider valued at $1,455,000 after buying 1,143 additional shares last quarter. Institutional investors hold 85.23% of the company’s shares.

ATV stock opened at $176.34 on Thursday. The stock has a market capitalization of $22.76 billion, a PE ratio of 12.78, a growth price-earnings ratio of 1.92 and a beta of 0.92. The company’s 50-day moving average is $174.15 and its 200-day moving average is $164.92. The company has a debt ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.06. M&T Bank has a 1-year low of $128.46 and a 1-year high of $186.95.

M&T Bank announced that its board of directors launched a share repurchase program on Tuesday, February 22 that allows the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through purchases on the open market. Stock buyback programs usually indicate that the management of the company believes that its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31. Shareholders of record on Monday, February 28 received a dividend of $1.20 per share. The ex-dividend date was Friday, February 25. This represents an annualized dividend of $4.80 and a dividend yield of 2.72%. M&T Bank’s payout ratio is currently 34.78%.

About M&T Bank (Get an assessment)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The Company’s Business Banking segment provides deposit, lending, cash management and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial loans and leases, letters of credit and cash management services to medium and large commercial enterprises.

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Earnings history and estimates for M&T Bank (NYSE:MTB)



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Shawanda H. Saldana