M&T Bank (NYSE:MTB) Issues Earnings Results, Misses Expectations By $0.11 EPS

M&T Bank (NYSE:MTB) released its quarterly earnings results on Monday. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11), RTT News reports. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the previous year, the business posted $4.09 earnings per share.

M&T Bank Trading Up 1.2 %

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

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 payout ratio is currently 35.16%.

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated 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 completion of the sale, the director now owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock worth $5,114,624 in the last ninety days. 0.82% of the stock is owned by insiders.

Institutional Trading of M&T Bank

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MTB shares. Bank of America raised their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday. Barclays raised their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Morgan Stanley raised their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $157.98.

About M&T Bank

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.