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

M&T Bank (NYSE:MTB) announced its quarterly earnings data on Thursday. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. During the same period in the prior year, the company posted $2.74 earnings per share.

M&T Bank Stock Up 0.4 %

NYSE MTB opened at $196.88 on Friday. The stock has a fifty day moving average of $202.66 and a 200-day moving average of $183.16. The stock has a market capitalization of $32.67 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. M&T Bank has a 52 week low of $128.31 and a 52 week high of $225.70. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.74%. M&T Bank’s payout ratio is 39.97%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MTB. Bank of America raised their price target on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. DA Davidson increased their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $221.68.

Insider Activity

In related news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now directly owns 49,960 shares of the company’s stock, valued at $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,994 shares of company stock valued at $17,211,278. Company insiders own 0.82% of the company’s stock.

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.