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

M&T Bank (NYSE:MTB) posted its earnings results on Monday. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11), RTT News reports. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the business posted $4.09 EPS.

M&T Bank Stock Up 1.3 %

Shares of M&T Bank stock traded up $1.72 during trading on Wednesday, hitting $139.11. The company’s stock had a trading volume of 942,036 shares, compared to its average volume of 1,210,598. M&T Bank has a 52 week low of $108.53 and a 52 week high of $148.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The company has a fifty day simple moving average of $139.44 and a two-hundred day simple moving average of $132.72. The company has a market capitalization of $23.18 billion, a PE ratio of 9.29, a P/E/G ratio of 1.30 and a beta of 0.80.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.74%. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,481 shares of company stock worth $5,114,624. 0.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in shares of M&T Bank in the 3rd quarter worth approximately $833,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of M&T Bank by 8.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 305 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of M&T Bank during the 3rd quarter worth about $299,000. Metis Global Partners LLC grew its holdings in M&T Bank by 15.2% during the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY raised its position in M&T Bank by 15.7% in the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after purchasing an additional 12,590 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Piper Sandler dropped their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research report on Friday, January 19th. Bank of America increased their price target on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, UBS Group boosted their price target on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average target price of $157.98.

M&T Bank Company Profile

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.