M&T Bank (NYSE:MTB) issued its quarterly earnings results 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 net margin of 24.89% and a return on equity of 10.39%. During the same quarter in the prior year, the firm posted $1.76 EPS.
NYSE:MTB traded down $4.37 on Thursday, hitting $128.68. The stock had a trading volume of 30,908 shares, compared to its average volume of 870,981. 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 firm has a market cap of $16.55 billion, a PE ratio of 11.73 and a beta of 1.19. M&T Bank has a 1 year low of $88.48 and a 1 year high of $168.27. The firm’s fifty day simple moving average is $151.55.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 1st were paid a $1.10 dividend. The ex-dividend date was Friday, May 28th. This represents a $4.40 annualized dividend and a yield of 3.42%. M&T Bank’s dividend payout ratio (DPR) is 43.91%.
MTB has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Tuesday, April 27th. Citigroup initiated coverage on shares of M&T Bank in a research report on Friday, July 16th. They set a “hold” rating and a $141.19 price target on the stock. Wedbush cut their price objective on shares of M&T Bank from $171.00 to $158.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group reissued a “hold” rating on shares of M&T Bank in a research report on Monday, April 19th. Finally, Morgan Stanley increased their price objective on shares of M&T Bank from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. M&T Bank presently has an average rating of “Hold” and a consensus price target of $159.32.
M&T Bank Company Profile
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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