M&T Bank (NYSE:MTB) Issues Quarterly Earnings Results

M&T Bank (NYSE:MTB) issued its earnings results on Monday. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $4.09 earnings per share.

M&T Bank Stock Performance

MTB stock traded up $1.72 during trading on Wednesday, reaching $139.11. 942,036 shares of the company’s stock were exchanged, compared to its average volume of 1,210,598. The firm has a market cap of $23.18 billion, a PE ratio of 9.29, a P/E/G ratio of 1.30 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. The company’s fifty day moving average price is $139.44 and its 200-day moving average price is $132.72.

M&T Bank Dividend Announcement

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

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction dated 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 transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. 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 ninety days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On M&T Bank

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Clear Street Markets LLC acquired a new position in M&T Bank in the 4th quarter worth approximately $25,000. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the fourth quarter valued at $25,000. General Partner Inc. acquired a new stake in M&T Bank during the 1st quarter worth about $27,000. RVW Wealth LLC acquired a new position in shares of M&T Bank in the 3rd quarter valued at about $27,000. Finally, Quarry LP acquired a new stake in shares of M&T Bank during the first quarter worth approximately $27,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MTB shares. UBS Group raised their target price on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a report on Tuesday. Wells Fargo & Company upped their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler dropped their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Finally, Evercore ISI increased their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $157.98.

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.