M&T Bank (NYSE:MTB) announced its quarterly earnings results on Monday. The financial services provider reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.05, MarketWatch Earnings reports. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same period in the previous year, the firm posted $2.23 earnings per share.
NYSE:MTB traded down $4.04 during midday trading on Monday, reaching $163.72. 1,167,200 shares of the stock traded hands, compared to its average volume of 874,294. M&T Bank has a 12-month low of $133.78 and a 12-month high of $187.07. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.50 and a beta of 1.05.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $1.00 per share. The ex-dividend date was Friday, March 1st. This represents a $4.00 dividend on an annualized basis and a yield of 2.44%. M&T Bank’s payout ratio is 31.10%.
Several equities research analysts have recently weighed in on the stock. Robert W. Baird cut shares of M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price target for the company. in a research report on Thursday, February 21st. Citigroup increased their target price on shares of M&T Bank from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Barclays reissued a “buy” rating and set a $207.00 target price on shares of M&T Bank in a research report on Thursday, February 21st. Finally, Wedbush set a $165.00 target price on shares of M&T Bank and gave the company a “hold” rating in a research report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $179.50.
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M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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