M&T Bank (NYSE:MTB) posted its quarterly earnings data on Tuesday. The financial services provider reported $3.41 EPS for the quarter, missing the Zacks' consensus estimate of $3.70 by ($0.29), MarketWatch Earnings reports. M&T Bank had a return on equity of 10.39% and a net margin of 24.89%. During the same quarter last year, the company earned $1.76 EPS.
NYSE:MTB opened at $133.05 on Thursday. M&T Bank has a 52 week low of $88.48 and a 52 week high of $168.27. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The business's 50-day simple moving average is $151.55. The company has a market capitalization of $17.12 billion, a price-to-earnings ratio of 11.73 and a beta of 1.19.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 1st were given a $1.10 dividend. The ex-dividend date was Friday, May 28th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.31%. M&T Bank's payout ratio is presently 43.91%.
Several research firms have recently commented on MTB. Morgan Stanley increased their price objective on M&T Bank from $175.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, April 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of M&T Bank from $161.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, April 1st. Barclays raised their target price on shares of M&T Bank from $163.00 to $167.00 and gave the company an "overweight" rating in a research note on Wednesday, April 7th. Odeon Capital Group upgraded M&T Bank from a "sell" rating to a "hold" rating and set a $128.68 price target for the company in a report on Monday. Finally, Wells Fargo & Company upped their price objective on M&T Bank from $155.00 to $168.00 and gave the company an "equal weight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of "Hold" and an average price target of $160.76.
In other M&T Bank news, EVP D Scott N. Warman sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $163.00, for a total transaction of $652,000.00. Following the completion of the transaction, the executive vice president now directly owns 14,486 shares in the company, valued at $2,361,218. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michele D. Trolli sold 4,967 shares of the firm's stock in a transaction on Tuesday, April 27th. The shares were sold at an average price of $155.74, for a total value of $773,560.58. Following the completion of the sale, the executive vice president now directly owns 10,622 shares in the company, valued at approximately $1,654,270.28. The disclosure for this sale can be found here. Insiders own 0.64% of the company's stock.
About M&T Bank
M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.
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