M&T Bank (NYSE:MTB - Get Free Report) issued its earnings results on Thursday. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22, RTT News reports. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period last year, the firm posted $2.74 EPS.
M&T Bank Stock Down 2.3 %
Shares of M&T Bank stock traded down $4.71 during trading hours on Thursday, reaching $196.16. 2,382,879 shares of the company's stock were exchanged, compared to its average volume of 1,353,127. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $202.90 and a two-hundred day moving average of $183.07. The stock has a market cap of $32.55 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.16 and a beta of 0.79. M&T Bank has a fifty-two week low of $128.31 and a fifty-two week high of $225.70.
M&T Bank Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.75%. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. DA Davidson upped their price target on M&T Bank from $192.00 to $207.00 and gave the company a "neutral" rating in a research note on Monday, October 21st. Wedbush upped their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Citigroup cut shares of M&T Bank from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Wells Fargo & Company boosted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a report on Friday, November 15th. Finally, Bank of America raised their price objective on M&T Bank from $188.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $216.86.
Check Out Our Latest Stock Analysis on MTB
Insider Buying and Selling
In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company's stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Barnes sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the sale, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,994 shares of company stock worth $17,211,278. Corporate insiders own 0.82% of the company's stock.
M&T Bank Company Profile
(
Get Free Report)
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.
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