M&T Bank Corporation (NYSE:MTB) posted its quarterly earnings results on Wednesday, October 18th. The bank reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19), MarketWatch Earnings reports. M&T Bank Corporation had a net margin of 23.97% and a return on equity of 9.52%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company posted $2.10 EPS.
Shares of M&T Bank Corporation (NYSE MTB) opened at 167.82 on Friday. The company has a 50-day moving average price of $157.41 and a 200 day moving average price of $158.31. The firm has a market capitalization of $25.50 billion, a price-to-earnings ratio of 19.64 and a beta of 0.78. M&T Bank Corporation has a 1-year low of $120.09 and a 1-year high of $173.72.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, August 30th. M&T Bank Corporation’s dividend payout ratio (DPR) is presently 34.64%.
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A number of equities research analysts recently weighed in on MTB shares. Macquarie cut M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research note on Friday, August 4th. Instinet dropped their price target on M&T Bank Corporation from $148.00 to $144.00 and set a “neutral” rating on the stock in a research note on Friday, June 30th. BidaskClub cut M&T Bank Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Sanford C. Bernstein restated a “market perform” rating and issued a $165.00 price target (down previously from $171.00) on shares of M&T Bank Corporation in a research note on Saturday, September 16th. Finally, Nomura increased their price objective on M&T Bank Corporation from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. M&T Bank Corporation has a consensus rating of “Hold” and an average price target of $161.89.
In other M&T Bank Corporation news, VP Michele D. Trolli sold 8,908 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $164.25, for a total value of $1,463,139.00. Following the transaction, the vice president now directly owns 23,091 shares in the company, valued at approximately $3,792,696.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sabeth Siddique sold 950 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $147.17, for a total value of $139,811.50. Following the completion of the transaction, the insider now owns 1,488 shares in the company, valued at $218,988.96. The disclosure for this sale can be found here. Insiders sold a total of 11,058 shares of company stock worth $1,799,055 over the last 90 days. Corporate insiders own 3.18% of the company’s stock.
M&T Bank Corporation Company Profile
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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