M&T Bank (NYSE:MTB) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS

M&T Bank (NYSE:MTB) posted its quarterly earnings data on Tuesday. The financial services provider reported $3.41 earnings per share for the quarter, missing the Thomson Reuters’ 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 period last year, the company earned $1.76 earnings per share.

NYSE:MTB traded down $4.20 during trading hours on Thursday, hitting $128.85. The company’s stock had a trading volume of 12,469 shares, compared to its average volume of 870,981. The company has a 50-day moving average price of $151.55. The firm has a market capitalization of $16.58 billion, a P/E ratio of 11.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 1.06. M&T Bank has a 52-week low of $88.48 and a 52-week high of $168.27.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 1st were given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 3.41%. The ex-dividend date was Friday, May 28th. M&T Bank’s payout ratio is 43.91%.

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on M&T Bank from $163.00 to $167.00 and gave the company an “overweight” rating in a report on Wednesday, April 7th. Wedbush decreased their price target on M&T Bank from $171.00 to $158.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley increased their price target on M&T Bank from $175.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, April 29th. Wells Fargo & Company increased their price target on M&T Bank from $155.00 to $168.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Odeon Capital Group raised M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 price target for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. M&T Bank currently has a consensus rating of “Hold” and an average target price of $160.76.

In other M&T Bank news, EVP D Scott N. Warman sold 4,000 shares of the stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $163.00, for a total value of $652,000.00. Following the completion of the transaction, the executive vice president now owns 14,486 shares in the company, valued at $2,361,218. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michele D. Trolli sold 4,967 shares of the stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $155.74, for a total value of $773,560.58. Following the completion of the transaction, the executive vice president now owns 10,622 shares of the company’s stock, valued at approximately $1,654,270.28. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

About M&T Bank

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.

Featured Story: Straddles

Earnings History for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.