M&T Bank (NYSE:MTB – Get Free Report) released its quarterly earnings results on Thursday. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23, RTT News reports. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the firm earned $5.12 EPS.
M&T Bank Stock Down 1.3 %
Shares of NYSE MTB opened at $165.25 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The company has a market capitalization of $27.57 billion, a P/E ratio of 11.17, a P/E/G ratio of 3.86 and a beta of 0.77. The company has a 50 day simple moving average of $150.48 and a 200-day simple moving average of $143.76. M&T Bank has a 1 year low of $108.53 and a 1 year high of $175.00.
M&T Bank Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.27%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several research firms recently weighed in on MTB. Wells Fargo & Company upped their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Royal Bank of Canada increased their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday. Evercore ISI increased their price objective on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a report on Wednesday, April 10th. Finally, Jefferies Financial Group increased their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $166.79.
Read Our Latest Research Report on MTB
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.
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