M&T Bank (NYSE:MTB) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

M&T Bank (NYSE:MTB) released its quarterly earnings data on Monday. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03), Zacks reports. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the company posted $3.09 EPS.

M&T Bank Stock Up 0.3 %

Shares of NYSE MTB opened at $158.36 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a market cap of $26.02 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank has a 12-month low of $136.18 and a 12-month high of $225.70. The firm’s 50-day simple moving average is $180.47 and its 200 day simple moving average is $191.77.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were issued a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.41%. M&T Bank’s payout ratio is presently 36.91%.

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley reduced their price target on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. DA Davidson raised their price objective on M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Evercore ISI decreased their price objective on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus target price of $215.97.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.