M&T Bank (NYSE:MTB) Releases Quarterly Earnings Results, Misses Estimates By $0.29 EPS

M&T Bank (NYSE:MTB) issued its quarterly earnings data on Tuesday. The financial services provider reported $3.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.29), MarketWatch Earnings reports. M&T Bank had a return on equity of 10.39% and a net margin of 24.89%. During the same quarter in the prior year, the firm posted $1.76 earnings per share.

Shares of MTB stock traded down $3.90 during trading on Thursday, reaching $129.15. The company’s stock had a trading volume of 11,479 shares, compared to its average volume of 870,981. The firm has a market cap of $16.62 billion, a P/E ratio of 11.73 and a beta of 1.19. M&T Bank has a 1-year low of $88.48 and a 1-year high of $168.27. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $151.55.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 1st were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, May 28th. This represents a $4.40 annualized dividend and a dividend yield of 3.41%. M&T Bank’s dividend payout ratio is presently 43.91%.

A number of research analysts recently commented on MTB shares. Wells Fargo & Company lifted their price target on M&T Bank from $155.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Thursday. Odeon Capital Group raised M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 target price on the stock in a research report on Monday. Morgan Stanley raised their price target on M&T Bank from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 29th. Barclays boosted their price objective on shares of M&T Bank from $163.00 to $167.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7th. Finally, Wedbush dropped their price target on shares of M&T Bank from $171.00 to $158.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $160.76.

In related news, EVP D Scott N. Warman sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $163.00, for a total transaction of $652,000.00. Following the sale, the executive vice president now directly owns 14,486 shares in the company, valued at $2,361,218. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michele D. Trolli sold 4,967 shares of M&T Bank stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $155.74, for a total transaction of $773,560.58. Following the completion of the transaction, the executive vice president now owns 10,622 shares of the company’s stock, valued at approximately $1,654,270.28. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

About M&T Bank

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

Featured Article: Technical Analysis of Stocks and What It Means

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

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.