M&T Bank (NYSE:MTB) posted its quarterly earnings data on Thursday. The financial services provider reported $3.34 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.36), Fidelity Earnings reports. M&T Bank had a return on equity of 14.26% and a net margin of 29.81%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business earned $3.26 EPS.
Shares of MTB opened at $162.87 on Friday. The company’s 50 day simple moving average is $168.19. The company has a market cap of $22.25 billion, a P/E ratio of 12.66, a PEG ratio of 1.74 and a beta of 1.06. M&T Bank has a 12-month low of $133.78 and a 12-month high of $180.77. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.01 and a quick ratio of 1.06.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Friday, May 31st. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.
Several research firms have recently commented on MTB. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Gilead Sciences in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods raised their price objective on Fidelity National Financial from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday. Zacks Investment Research downgraded First Merchants from a “hold” rating to a “sell” rating in a research note on Monday, July 1st. Barclays raised their price objective on from $65.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup raised Infosys from a “neutral” rating to a “buy” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $181.17.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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