M&T Bank (NYSE:MTB – Get Free Report) posted its quarterly earnings data on Friday. The financial services provider reported $5.08 EPS for the quarter, beating the consensus estimate of $4.93 by $0.15, FiscalAI reports. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.53 billion.
M&T Bank Price Performance
MTB stock opened at $218.87 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $232.67 and a 200-day simple moving average of $228.62. The firm has a market capitalization of $31.61 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61. M&T Bank has a 1 year low of $174.76 and a 1 year high of $255.95.
M&T Bank Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, September 1st. M&T Bank’s payout ratio is currently 31.68%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price on the stock. in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a report on Tuesday, September 1st. Royal Bank Of Canada increased their target price on shares of M&T Bank from $230.00 to $255.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Barclays increased their target price on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group decreased their price target on shares of M&T Bank from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Eight investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $248.79.
Get Our Latest Stock Report on M&T Bank
Insider Activity at M&T Bank
In related news, CEO René Jones sold 19,396 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the completion of the sale, the chief executive officer owned 103,831 shares of the company’s stock, valued at approximately $24,851,949.85. This trade represents a 15.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at approximately $879,554.96. The trade was a 14.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,028 shares of company stock valued at $4,794,884. Insiders own 0.44% of the company’s stock.
M&T Bank Company Profile
M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.
M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.
The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.
John R.
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