Q2 2020 Earnings Forecast for M&T Bank Co. (NYSE:MTB) Issued By Wedbush

M&T Bank Co. (NYSE:MTB) – Investment analysts at Wedbush dropped their Q2 2020 earnings per share estimates for M&T Bank in a research report issued to clients and investors on Monday, June 29th. Wedbush analyst P. Winter now forecasts that the financial services provider will earn $1.82 per share for the quarter, down from their prior forecast of $2.05. Wedbush also issued estimates for M&T Bank’s Q3 2020 earnings at $1.95 EPS, Q4 2020 earnings at $2.15 EPS, FY2020 earnings at $7.86 EPS and Q1 2021 earnings at $1.86 EPS.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 20th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.55 by $0.38. M&T Bank had a return on equity of 11.84% and a net margin of 24.99%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the company posted $3.35 EPS.

A number of other equities analysts have also recently issued reports on the stock. Nomura Securities lowered their price objective on shares of M&T Bank from $176.00 to $107.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Royal Bank of Canada reiterated a “buy” rating and issued a $148.00 price target on shares of M&T Bank in a research note on Wednesday, April 8th. ValuEngine lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Deutsche Bank dropped their target price on M&T Bank from $185.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Nomura restated a “hold” rating and set a $107.00 price target on shares of M&T Bank in a report on Wednesday, April 22nd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. M&T Bank currently has an average rating of “Hold” and a consensus price target of $143.73.

MTB stock opened at $103.97 on Tuesday. The firm has a 50-day moving average price of $105.34 and a 200-day moving average price of $131.53. M&T Bank has a 12 month low of $85.09 and a 12 month high of $174.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $12.89 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 4.56 and a beta of 1.21.

A number of hedge funds have recently made changes to their positions in MTB. Marshall Wace LLP boosted its stake in M&T Bank by 355.8% during the 1st quarter. Marshall Wace LLP now owns 2,147 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 1,676 shares during the last quarter. Victory Capital Management Inc. grew its position in M&T Bank by 17.8% in the 4th quarter. Victory Capital Management Inc. now owns 239,038 shares of the financial services provider’s stock worth $40,577,000 after purchasing an additional 36,184 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in M&T Bank by 117.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 222 shares of the financial services provider’s stock valued at $38,000 after buying an additional 120 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of M&T Bank by 2.3% in the fourth quarter. Private Advisor Group LLC now owns 4,030 shares of the financial services provider’s stock valued at $684,000 after acquiring an additional 89 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its position in shares of M&T Bank by 10.9% during the fourth quarter. Chicago Equity Partners LLC now owns 5,290 shares of the financial services provider’s stock valued at $898,000 after acquiring an additional 520 shares during the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

In other news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $112.64, for a total transaction of $112,640.00. Following the transaction, the executive vice president now owns 1,789 shares of the company’s stock, valued at approximately $201,512.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were paid a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, May 29th. M&T Bank’s dividend payout ratio (DPR) is currently 32.00%.

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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