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

M&T Bank (NYSE:MTB – Get Rating) issued its quarterly earnings data on Thursday. The financial services provider reported $4.29 earnings per share for the quarter, missing the consensus estimate of $4.50 by ($0.21), RTT News reports. M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. During the same period in the prior year, the firm earned $3.37 EPS.

M&T Bank Stock Down 0.1 %

MTB stock opened at $153.69 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.91 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $26.53 billion, a PE ratio of 13.34, a PEG ratio of 0.86 and a beta of 0.83. M&T Bank has a twelve month low of $138.43 and a twelve month high of $193.42. The stock has a 50-day simple moving average of $154.22 and a two-hundred day simple moving average of $168.49.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 1st were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, November 30th. M&T Bank’s payout ratio is presently 41.67%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MTB shares. DA Davidson started coverage on M&T Bank in a research report on Wednesday, December 21st. They set a “neutral” rating and a $160.00 target price for the company. Piper Sandler decreased their target price on M&T Bank from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Citigroup decreased their target price on M&T Bank from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. Wells Fargo & Company decreased their target price on M&T Bank from $175.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, December 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on M&T Bank from $255.00 to $175.00 in a research report on Friday, January 6th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $182.72.

Institutional Trading of M&T Bank

A number of large investors have recently modified their holdings of MTB. AlphaCrest Capital Management LLC bought a new stake in shares of M&T Bank during the 1st quarter valued at about $306,000. Vontobel Holding Ltd. lifted its position in M&T Bank by 29.1% in the 1st quarter. Vontobel Holding Ltd. now owns 2,180 shares of the financial services provider’s stock worth $375,000 after buying an additional 491 shares during the last quarter. Aviva PLC lifted its position in M&T Bank by 37.7% in the 1st quarter. Aviva PLC now owns 27,430 shares of the financial services provider’s stock worth $4,649,000 after buying an additional 7,503 shares during the last quarter. Prudential PLC bought a new stake in M&T Bank in the 1st quarter worth approximately $626,000. Finally, Cetera Investment Advisers lifted its position in M&T Bank by 60.8% in the 1st quarter. Cetera Investment Advisers now owns 5,978 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 2,260 shares during the last quarter. Institutional investors own 84.10% of the company’s stock.

About M&T Bank

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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.