M&T Bank (NYSE:MTB) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

M&T Bank (NYSE:MTB) announced its quarterly earnings data on Monday. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11), RTT News reports. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business earned $4.09 earnings per share.

M&T Bank Price Performance

Shares of MTB opened at $139.04 on Thursday. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. M&T Bank has a one year low of $108.53 and a one year high of $148.23. The stock’s fifty day moving average is $139.61 and its 200-day moving average is $132.77.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Insider Activity

In other news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,481 shares of company stock valued at $5,114,624. Company insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the fourth quarter worth about $25,000. Clear Street Markets LLC acquired a new position in M&T Bank during the fourth quarter worth about $25,000. RVW Wealth LLC acquired a new position in M&T Bank during the third quarter worth about $27,000. General Partner Inc. acquired a new position in M&T Bank during the first quarter worth about $27,000. Finally, Quarry LP acquired a new position in shares of M&T Bank in the 1st quarter valued at $27,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MTB shares. Evercore ISI raised their price objective on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Bank of America raised their price objective on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. JPMorgan Chase & Co. raised their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.