M&T Bank (NYSE:MTB) Releases Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• M&T Bank beat quarterly earnings expectations: The bank reported $5.08 in EPS, $0.15 above consensus, while revenue reached $2.54 billion versus estimates of $2.53 billion.
• Shares rose 1.3%: M&T Bank opened at $218.87, with a market capitalization of approximately $31.61 billion and a price-to-earnings ratio of 11.30.
• Analysts remain cautious: The stock carries a consensus “Hold” rating and an average price target of $248.79, while the company maintains a $1.50 quarterly dividend, equal to a 2.7% yield.

M&T Bank (NYSE:MTB - Get Free Report) posted its earnings results on Friday. The financial services provider reported $5.08 EPS for the quarter, beating analysts' consensus estimates of $4.93 by $0.15, FiscalAI reports. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%. The firm had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.53 billion.

M&T Bank Stock Up 1.3%

Shares of NYSE MTB opened at $218.87 on Friday. The company's 50-day simple moving average is $232.67 and its 200-day simple moving average is $228.62. M&T Bank has a 52-week low of $174.76 and a 52-week high of $255.95. The firm has a market cap of $31.61 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, September 1st. M&T Bank's dividend payout ratio (DPR) is presently 31.68%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group reduced their price target on M&T Bank from $300.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, September 24th. JPMorgan Chase & Co. lowered their price target on M&T Bank from $265.50 to $248.50 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Robert W. Baird raised their price objective on M&T Bank from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Cantor Fitzgerald cut their price objective on M&T Bank from $285.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, M&T Bank has an average rating of "Hold" and a consensus price target of $248.79.

Insider Transactions at M&T Bank

In other news, Director Rudina Seseri sold 623 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the sale, the director owned 3,649 shares of the company's stock, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO René Jones sold 19,396 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $239.35, for a total transaction of $4,642,432.60. Following the transaction, the chief executive officer owned 103,831 shares of the company's stock, valued at approximately $24,851,949.85. This trade represents a 15.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,028 shares of company stock valued at $4,794,884 in the last three months. Corporate insiders own 0.44% of the company's stock.

About M&T Bank

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.

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