M&T Bank (NYSE:MTB) Releases Earnings Results, Beats Expectations By $0.22 EPS

M&T Bank (NYSE:MTB) posted its quarterly earnings data on Thursday. The financial services provider reported $3.92 earnings per share 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%.

M&T Bank Price Performance

Shares of NYSE MTB opened at $201.05 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank has a 1-year low of $128.31 and a 1-year high of $225.70. The company has a market capitalization of $33.36 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 2.16 and a beta of 0.79. The business has a 50-day moving average of $203.21 and a 200-day moving average of $182.94.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Activity at M&T Bank

In related news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the sale, the executive vice president now directly owns 5,618 shares of the company’s stock, valued at approximately $1,095,678.54. This trade represents a 20.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 49,960 shares in the company, valued at $9,690,741.20. This represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MTB has been the subject of several recent analyst reports. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $220.00 to $230.00 in a research note on Monday, November 25th. DA Davidson lifted their price objective on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Royal Bank of Canada lifted their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $216.86.

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.