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

M&T Bank (NYSE:MTB) issued its quarterly earnings data on Monday. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11), RTT News reports. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share.

M&T Bank Stock Down 2.5 %

MTB stock opened at $137.37 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $22.89 billion, a PE ratio of 9.29, a PEG ratio of 1.30 and a beta of 0.80. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. The business’s 50 day simple moving average is $139.44 and its 200 day simple moving average is $132.72.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is presently 35.16%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America boosted their price objective on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson restated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research note on Tuesday. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their target price on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, M&T Bank has an average rating of “Hold” and a consensus target price of $157.98.

Insider Buying and Selling

In related news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in M&T Bank in the 3rd quarter valued at $833,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after purchasing an additional 305 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of M&T Bank during the 3rd quarter worth $299,000. Metis Global Partners LLC grew its holdings in shares of M&T Bank by 15.2% during the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares in the last quarter. Finally, Matrix Asset Advisors Inc. NY grew its holdings in shares of M&T Bank by 15.7% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after purchasing an additional 12,590 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Company Profile

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.