M&T Bank (NYSE:MTB) announced its earnings results on Tuesday. The financial services provider reported $3.41 EPS for the quarter, missing the Zacks’ consensus estimate of $3.70 by ($0.29), MarketWatch Earnings reports. M&T Bank had a net margin of 24.89% and a return on equity of 10.39%. During the same quarter in the previous year, the firm earned $1.76 EPS.
MTB stock traded down $4.37 during trading on Thursday, hitting $128.68. 30,908 shares of the company’s stock traded hands, compared to its average volume of 870,981. M&T Bank has a 52 week low of $88.48 and a 52 week high of $168.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a fifty day simple moving average of $151.55. The firm has a market capitalization of $16.55 billion, a PE ratio of 11.73 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 1st were given a dividend of $1.10 per share. The ex-dividend date was Friday, May 28th. This represents a $4.40 annualized dividend and a yield of 3.42%. M&T Bank’s dividend payout ratio (DPR) is currently 43.91%.
A number of equities analysts have weighed in on the stock. Citigroup assumed coverage on shares of M&T Bank in a research report on Friday, July 16th. They issued a “hold” rating and a $141.19 price target for the company. Keefe, Bruyette & Woods upgraded shares of M&T Bank from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 7th. Jefferies Financial Group reiterated a “hold” rating on shares of M&T Bank in a research report on Monday, April 19th. Wedbush dropped their price target on shares of M&T Bank from $171.00 to $158.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Odeon Capital Group upgraded shares of M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 price target for the company in a research report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. M&T Bank currently has a consensus rating of “Hold” and an average target price of $159.32.
About M&T Bank
M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.
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