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

M&T Bank (NYSE:MTB - Get Free Report) announced its quarterly earnings data on Monday. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.13 by ($0.11), RTT News reports. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the firm earned $4.09 earnings per share.

M&T Bank Price Performance

NYSE MTB opened at $140.88 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The firm's 50 day moving average price is $139.33 and its 200-day moving average price is $132.65. M&T Bank has a 52-week low of $108.53 and a 52-week high of $148.23. The company has a market cap of $23.47 billion, a PE ratio of 8.93, a P/E/G ratio of 1.24 and a beta of 0.80.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 yield of 3.69%. M&T Bank's dividend payout ratio is currently 32.95%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now 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 at this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now 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 at this link. Also, EVP Doris P. Meister sold 3,961 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares of the company's stock, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock valued at $5,114,624 over the last 90 days. Insiders own 0.82% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Penserra Capital Management LLC grew its position in shares of M&T Bank by 7.8% in the fourth quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider's stock valued at $134,000 after purchasing an additional 67 shares during the period. Carnegie Capital Asset Management LLC grew its position in shares of M&T Bank by 2.6% in the third quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider's stock valued at $394,000 after purchasing an additional 80 shares during the period. Burns J W & Co. Inc. NY grew its position in shares of M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider's stock valued at $827,000 after purchasing an additional 80 shares during the period. First Horizon Advisors Inc. grew its position in shares of M&T Bank by 3.2% in the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider's stock valued at $349,000 after purchasing an additional 80 shares during the period. Finally, Fulton Bank N.A. grew its position in shares of M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider's stock valued at $526,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MTB. StockNews.com downgraded shares of M&T Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, December 27th. UBS Group boosted their price objective on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a "buy" rating to a "hold" rating and set a $145.00 price objective for the company. in a research report on Monday, December 18th. Royal Bank of Canada reissued an "outperform" rating and set a $160.00 price objective on shares of M&T Bank in a research report on Friday, January 19th. Finally, Barclays upped their target price on shares of M&T Bank from $150.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $155.21.

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.