Barclays Maintains an 'Equalweight' on M&T Bank (MTB); 1Q11 EPS Preview - TARP Repayment Could Be a Near-term Event
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Price: $145.68 +1.60%
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 3 | New: 2
Rating Summary:
12 Buy, 17 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 3 | New: 2
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Barclays maintains an 'Equalweight' on M&T Bank (NYSE: MTB), PT $95.
Barclays analyst says, "While M&T's asset quality trends should remain sound and we expect its pending acquisition of Wilmington Trust (WL) to add value over time, near-term results will likely be constrained by loan demand showing only nascent signs of recovery, lower mortgage fees and seasonally higher expenses. We expect investor attention to be TARP repayment and capital in general as MTB's metrics remain below peers."
"We expect MTB to report 1Q11 EPS of $1.45 versus the $1.40 consensus. Our 2011 EPS estimate is $6.10 reflecting the impact of its planned acquisition of WL and assumes a closing around the middle of 2011. Still, the potential for share issuance tied to TARP repayment could alter results."
For more ratings news on M&T Bank click here and for the rating history of M&T Bank click here.
Shares of M&T Bank closed at $88.25 yesterday.
Barclays analyst says, "While M&T's asset quality trends should remain sound and we expect its pending acquisition of Wilmington Trust (WL) to add value over time, near-term results will likely be constrained by loan demand showing only nascent signs of recovery, lower mortgage fees and seasonally higher expenses. We expect investor attention to be TARP repayment and capital in general as MTB's metrics remain below peers."
"We expect MTB to report 1Q11 EPS of $1.45 versus the $1.40 consensus. Our 2011 EPS estimate is $6.10 reflecting the impact of its planned acquisition of WL and assumes a closing around the middle of 2011. Still, the potential for share issuance tied to TARP repayment could alter results."
For more ratings news on M&T Bank click here and for the rating history of M&T Bank click here.
Shares of M&T Bank closed at $88.25 yesterday.
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