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

M&T Bank (NYSE:MTB) issued its earnings results on Thursday. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22, RTT News reports. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the previous year, the company earned $2.74 EPS.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $196.16 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank has a one year low of $128.31 and a one year high of $225.70. The business’s 50-day moving average price is $202.90 and its two-hundred day moving average price is $183.07. The company has a market capitalization of $32.55 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays raised their price target on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Bank of America lifted their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Compass Point raised their target price on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $216.86.

Insider Transactions at M&T Bank

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at $14,972,576.88. The trade was a 23.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock valued at $17,211,278 in the last three months. Corporate insiders own 0.82% of the company’s stock.

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.