M&T Bank (NYSE:MTB) Issues Earnings Results

M&T Bank (NYSE:MTB) issued its quarterly earnings data on Monday. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11), RTT News reports. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company earned $4.09 EPS.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $139.04 on Thursday. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.26 and a beta of 0.80. The firm’s 50 day simple moving average is $139.61 and its 200 day simple moving average is $132.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a fifty-two week low of $108.53 and a fifty-two week high of $148.23.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.74%. M&T Bank’s dividend payout ratio is 35.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Wedbush reissued an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a report on Tuesday. Barclays upped their target price on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Evercore ISI upped their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and an average target price of $157.98.

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock worth $5,114,624 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of M&T Bank

Hedge funds have recently bought and sold shares of the stock. Clear Street Markets LLC acquired a new stake in M&T Bank during the 4th quarter worth approximately $25,000. HHM Wealth Advisors LLC acquired a new stake in M&T Bank during the 4th quarter worth approximately $25,000. General Partner Inc. bought a new position in shares of M&T Bank during the 1st quarter worth approximately $27,000. RVW Wealth LLC bought a new position in shares of M&T Bank during the 3rd quarter worth approximately $27,000. Finally, Quarry LP bought a new position in shares of M&T Bank during the 1st quarter worth approximately $27,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.