M&T Bank (MTB) to Release Earnings on Monday

M&T Bank (NYSE:MTB) is anticipated to post its quarterly earnings results before the market opens on Monday, April 14th. Analysts expect M&T Bank to post earnings of $3.45 per share and revenue of $2.35 billion for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the previous year, the business posted $2.74 earnings per share. On average, analysts expect M&T Bank to post $17 EPS for the current fiscal year and $19 EPS for the next fiscal year.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $157.82 on Friday. The company’s 50 day moving average price is $181.27 and its two-hundred day moving average price is $191.77. The firm has a market capitalization of $25.93 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank has a fifty-two week low of $133.08 and a fifty-two week high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank declared that its board has approved a stock repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.42%. M&T Bank’s dividend payout ratio is currently 36.91%.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MTB has been the subject of several recent research reports. Barclays upped their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial decreased their price target on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 4th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Citigroup decreased their price objective on M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Wells Fargo & Company cut their target price on M&T Bank from $205.00 to $185.00 and set an “underweight” rating on the stock in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus target price of $215.97.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.