M&T Bank (NYSE:MTB) Releases Earnings Results, Beats Expectations By $0.24 EPS

M&T Bank (NYSE:MTBGet Free Report) issued its quarterly earnings data on Wednesday. The financial services provider reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.24, Zacks reports. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the business earned $3.73 earnings per share.

M&T Bank Price Performance

Shares of MTB stock traded down $0.60 during trading hours on Friday, hitting $195.01. 83,398 shares of the company’s stock were exchanged, compared to its average volume of 1,201,716. The stock’s 50-day moving average is $188.26 and its 200-day moving average is $184.31. The stock has a market cap of $31.30 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.37 and a beta of 0.63. M&T Bank has a 52 week low of $150.75 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.97.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank’s payout ratio is presently 36.17%.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director owned 23,070 shares in the company, valued at $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On M&T Bank

An institutional investor recently raised its position in M&T Bank stock. Woodline Partners LP lifted its holdings in shares of M&T Bank Corporation (NYSE:MTBFree Report) by 40.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,018 shares of the financial services provider’s stock after purchasing an additional 4,054 shares during the quarter. Woodline Partners LP’s holdings in M&T Bank were worth $2,506,000 at the end of the most recent quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. DA Davidson raised their price target on M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday. Cowen started coverage on M&T Bank in a report on Wednesday, May 14th. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Thursday, April 24th. Finally, Barclays cut their price target on M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.88.

Read Our Latest Analysis on MTB

M&T Bank Company Profile

(Get Free Report)

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.

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Earnings History for M&T Bank (NYSE:MTB)

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