M&T Bank (NYSE:MTB) Posts Quarterly Earnings Results, Misses Estimates By $0.29 EPS

M&T Bank (NYSE:MTB) issued its quarterly earnings data on Tuesday. The financial services provider reported $3.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.29), MarketWatch Earnings reports. M&T Bank had a return on equity of 10.39% and a net margin of 24.89%. During the same quarter in the prior year, the firm posted $1.76 earnings per share.

Shares of NYSE MTB traded down $3.68 during midday trading on Thursday, reaching $129.37. 11,058 shares of the stock traded hands, compared to its average volume of 870,981. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $16.64 billion, a PE ratio of 11.73 and a beta of 1.19. M&T Bank has a one year low of $88.48 and a one year high of $168.27. The stock has a 50 day moving average of $151.55.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 1st were given a dividend of $1.10 per share. The ex-dividend date was Friday, May 28th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.40%. M&T Bank’s dividend payout ratio is currently 43.91%.

In related news, EVP Michele D. Trolli sold 4,967 shares of the firm’s stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $155.74, for a total value of $773,560.58. Following the completion of the sale, the executive vice president now directly owns 10,622 shares in the company, valued at $1,654,270.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP D Scott N. Warman sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $163.00, for a total value of $652,000.00. Following the completion of the sale, the executive vice president now owns 14,486 shares of the company’s stock, valued at $2,361,218. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating on shares of M&T Bank in a report on Monday, April 19th. Barclays increased their target price on shares of M&T Bank from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, April 7th. Wedbush reduced their target price on shares of M&T Bank from $171.00 to $158.00 and set a “neutral” rating for the company in a report on Thursday. Odeon Capital Group raised shares of M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 target price for the company in a report on Monday. Finally, Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a report on Tuesday, April 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $160.76.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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Earnings History for M&T Bank (NYSE:MTB)

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