M&T Bank (NYSE:MTB) Issues Earnings Results

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M&T Bank (NYSE:MTB) issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $3.47 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.12), RTT News reports. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business posted $3.53 EPS.

Shares of MTB traded up $0.76 during mid-day trading on Friday, reaching $167.59. 545,509 shares of the company’s stock traded hands, compared to its average volume of 745,258. The business’s 50-day moving average price is $156.87 and its 200-day moving average price is $160.42. The stock has a market capitalization of $22.21 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 1.35 and a beta of 1.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 1.01. M&T Bank has a 12 month low of $133.78 and a 12 month high of $176.11.

MTB has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut shares of M&T Bank from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $168.00 to $160.00 in a research report on Friday, October 18th. Piper Jaffray Companies cut shares of M&T Bank from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $196.00 to $168.00 in a report on Monday, July 22nd. Citigroup cut their target price on shares of M&T Bank from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. ValuEngine raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Finally, Macquarie set a $158.00 target price on shares of M&T Bank and gave the stock a “sell” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $167.62.

In related news, COO Richard S. Gold sold 4,093 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $169.43, for a total transaction of $693,476.99. Following the transaction, the chief operating officer now owns 38,936 shares in the company, valued at $6,596,926.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denis J. Salamone sold 15,755 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $167.50, for a total transaction of $2,638,962.50. Following the transaction, the director now owns 90,293 shares in the company, valued at approximately $15,124,077.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,574 shares of company stock worth $4,245,337. Corporate insiders own 0.54% of the company’s stock.

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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Earnings History for M&T Bank (NYSE:MTB)

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