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

M&T Bank (NYSE:MTB) issued its quarterly earnings results on Tuesday. The financial services provider reported $3.41 EPS for the quarter, missing the 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 previous year, the business posted $1.76 earnings per share.

MTB traded down $3.62 on Thursday, hitting $129.43. The company had a trading volume of 19,338 shares, compared to its average volume of 870,981. The stock has a market cap of $16.65 billion, a price-to-earnings ratio of 11.73 and a beta of 1.19. M&T Bank has a 1 year low of $88.48 and a 1 year high of $168.27. The stock’s fifty day simple moving average is $151.55. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Tuesday, June 1st were issued a $1.10 dividend. The ex-dividend date was Friday, May 28th. This represents a $4.40 annualized dividend and a yield of 3.40%. M&T Bank’s dividend payout ratio (DPR) is currently 43.91%.

In other M&T Bank news, EVP D Scott N. Warman sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $163.00, for a total transaction of $652,000.00. Following the sale, the executive vice president now directly owns 14,486 shares in the company, valued at $2,361,218. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michele D. Trolli sold 4,967 shares of the business’s stock in a transaction dated Tuesday, April 27th. The stock was sold at an average price of $155.74, for a total transaction of $773,560.58. Following the sale, the executive vice president now owns 10,622 shares in the company, valued at $1,654,270.28. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

Several equities research analysts have issued reports on the stock. Wedbush lowered their target price on shares of M&T Bank from $171.00 to $158.00 and set a “neutral” rating on the stock in a research note on Thursday. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Tuesday, April 27th. Morgan Stanley lifted their target price on shares of M&T Bank from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. Jefferies Financial Group reaffirmed a “hold” rating on shares of M&T Bank in a research note on Monday, April 19th. Finally, Keefe, Bruyette & Woods raised shares of M&T Bank from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $159.32.

About M&T Bank

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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