Shares of M&T Bank (MTB) of Buffalo closed at $86.95 Thursday, returning 15% year-to-date.
The shares trade for 2.3 times tangible book value, according to HighlineFI, and for 12 times the consensus 2013 EPS estimate of $7.48. The consensus 2012 EPS estimate is $6.71
Based on a quarterly payout of 70 cents, the shares have a dividend yield of 3.22%.M&T Bank on Monday reported first-quarter net income available to common shareholders of $188.2 million, or $1.50 a share, beating the consensus EPS estimate of $1.48. The bank reported a 24% increase in mortgage banking revenue, to $56.2 million. Usdin rates M&T a "Hold," and on Monday raised his price target for the shares by a dollar to $89, while raising his 2012 EPS estimate by 10 cents to $6.80 and his 2013 estimate by 10 cents to $7.20, saying "questions on capital levels continue to be a modest overhang, but MTB has a clear path to strong core earnings generation, in our view, which should help justify its premium to the group." Interested in more on M&T Bank? See TheStreet Ratings' report card for this stock.
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