M&T Bank (NYSE:MTB) Issues Quarterly Earnings Results

M&T Bank (NYSE:MTB) posted its quarterly earnings data on Thursday. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $2.74 earnings per share.

M&T Bank Stock Performance

NYSE:MTB opened at $196.16 on Friday. The firm has a 50-day moving average of $202.90 and a two-hundred day moving average of $183.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $32.55 billion, a P/E ratio of 14.52, a PEG ratio of 2.16 and a beta of 0.79. M&T Bank has a 1-year low of $128.31 and a 1-year high of $225.70.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Wall Street Analyst Weigh In

MTB has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Wedbush increased their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group lifted their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, DA Davidson raised their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average price target of $216.86.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the firm’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 transaction of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is currently owned by insiders.

About M&T Bank

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.