M&T Bank (NYSE:MTB – Get Free Report) released its earnings results on Thursday. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23, RTT News reports. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the company earned $5.12 earnings per share.
M&T Bank Stock Down 1.3 %
MTB stock opened at $165.25 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. M&T Bank has a 52-week low of $108.53 and a 52-week high of $175.00. The company has a 50-day moving average of $150.48 and a two-hundred day moving average of $143.72. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 3.91 and a beta of 0.77.
M&T Bank Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.27%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. M&T Bank’s dividend payout ratio is 36.51%.
Insider Buying and Selling at M&T Bank
Analysts Set New Price Targets
A number of research firms have recently issued reports on MTB. Jefferies Financial Group increased their target price on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday. Citigroup upped their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $164.00 price target on shares of M&T Bank in a research note on Friday, June 21st. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $166.79.
View Our Latest Stock Analysis on M&T Bank
About M&T Bank
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.
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