M&T Bank (NYSE:MTB) Posts Quarterly Earnings Results, Misses Estimates By $0.11 EPS

M&T Bank (NYSE:MTB) announced its quarterly earnings data on Monday. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11), RTT News reports. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the business posted $4.09 EPS.

M&T Bank Stock Up 1.2 %

M&T Bank stock opened at $139.04 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. The company has a market cap of $23.17 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The stock’s 50 day moving average price is $139.61 and its 200 day moving average price is $132.77.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.74%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analyst Weigh In

MTB has been the subject of several recent research reports. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Wells Fargo & Company lifted their price objective on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday. Evercore ISI lifted their price objective on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Barclays lifted their price objective on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods raised their target price on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $157.98.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock worth $5,114,624 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of M&T Bank

A number of institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of M&T Bank in the third quarter worth $833,000. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 305 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of M&T Bank in the third quarter worth $299,000. Metis Global Partners LLC raised its holdings in shares of M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after acquiring an additional 931 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY raised its holdings in shares of M&T Bank by 15.7% in the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after acquiring an additional 12,590 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.