M&T Bank (NYSE:MTB) Posts Earnings Results, Misses Estimates By $0.21 EPS

M&T Bank (NYSE:MTB – Get Rating) announced its earnings results on Thursday. The financial services provider reported $4.29 EPS for the quarter, missing analysts’ consensus estimates of $4.50 by ($0.21), RTT News reports. M&T Bank had a net margin of 22.80% and a return on equity of 10.74%. During the same period in the prior year, the company posted $3.37 EPS.

M&T Bank Trading Down 0.1 %

M&T Bank stock opened at $153.69 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank has a one year low of $138.43 and a one year high of $193.42. The stock has a market capitalization of $26.53 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 0.84 and a beta of 0.83. The business’s fifty day moving average is $154.22 and its 200 day moving average is $168.42.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 1st were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, November 30th. This represents a $4.80 annualized dividend and a dividend yield of 3.12%. M&T Bank’s dividend payout ratio (DPR) is presently 45.28%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MTB shares. Wells Fargo & Company reduced their price target on M&T Bank from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 8th. Wedbush raised M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Tuesday, January 3rd. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their price target on M&T Bank from $255.00 to $175.00 in a research note on Friday, January 6th. Finally, Citigroup reduced their price target on M&T Bank from $200.00 to $180.00 and set a “neutral” rating on the stock in a research note on Friday, October 21st. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $182.72.

Institutional Investors Weigh In On M&T Bank

Institutional investors have recently modified their holdings of the business. Worth Asset Management LLC purchased a new stake in shares of M&T Bank during the first quarter valued at $58,000. Covestor Ltd lifted its holdings in M&T Bank by 44.2% in the first quarter. Covestor Ltd now owns 519 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 159 shares during the period. First Command Bank lifted its holdings in M&T Bank by 17.0% in the second quarter. First Command Bank now owns 998 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 145 shares during the period. Armbruster Capital Management Inc. bought a new position in M&T Bank in the third quarter valued at about $212,000. Finally, Ascent Group LLC bought a new position in M&T Bank in the third quarter valued at about $209,000. 84.10% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Company Profile

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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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.