M&T Bank (NYSE:MTB) Posts Earnings Results, Beats Expectations By $0.22 EPS

M&T Bank (NYSE:MTB) issued its quarterly earnings data on Thursday. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22, RTT News reports. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%.

M&T Bank Trading Up 3.1 %

Shares of MTB opened at $201.05 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The firm has a 50 day moving average price of $203.21 and a 200-day moving average price of $182.94. The firm has a market cap of $33.36 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.16 and a beta of 0.79.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In related news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock worth $17,211,278 in the last 90 days. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MTB. Evercore ISI increased their price target on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. DA Davidson increased their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Truist Financial assumed coverage on shares of M&T Bank in a research report on Tuesday, January 7th. They set a “buy” rating and a $233.00 price target for the company. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their price target for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Barclays lifted 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $216.86.

M&T Bank Company Profile

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.