M&T Bank Corp. (NYSE:MTB) issued its quarterly earnings results on Wednesday. The company reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.05. M&T Bank Corp. had a net margin of 22.07% and a return on equity of 8.58%.

M&T Bank Corp. (NYSE:MTB) opened at 115.27 on Wednesday. The firm has a market cap of $18.07 billion, a P/E ratio of 15.85 and a beta of 0.75. The stock has a 50 day moving average price of $116.15 and a 200-day moving average price of $116.15. M&T Bank Corp. has a 1-year low of $100.08 and a 1-year high of $127.39.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 1st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Tuesday, August 30th. M&T Bank Corp.’s dividend payout ratio (DPR) is currently 38.41%.

In other M&T Bank Corp. news, VP Drew J. Pfirrman sold 3,920 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $114.44, for a total transaction of $448,604.80. Following the completion of the transaction, the vice president now directly owns 3,590 shares in the company, valued at $410,839.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Wilmers sold 39,637 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $118.38, for a total transaction of $4,692,228.06. Following the transaction, the chief executive officer now owns 2,490,996 shares of the company’s stock, valued at $294,884,106.48. The disclosure for this sale can be found here. Company insiders own 3.63% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its position in shares of M&T Bank Corp. by 14.5% in the second quarter. Canada Pension Plan Investment Board now owns 12,019 shares of the company’s stock valued at $1,421,000 after buying an additional 1,520 shares in the last quarter. Employees Retirement System of Texas increased its position in shares of M&T Bank Corp. by 100.0% in the second quarter. Employees Retirement System of Texas now owns 10,000 shares of the company’s stock valued at $1,182,000 after buying an additional 5,000 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of M&T Bank Corp. during the second quarter valued at approximately $1,454,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of M&T Bank Corp. by 4.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 25,706 shares of the company’s stock valued at $3,039,000 after buying an additional 1,000 shares in the last quarter. Finally, Burney Co. purchased a new position in shares of M&T Bank Corp. during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 79.50% of the company’s stock.

MTB has been the topic of a number of recent research reports. Barclays PLC reiterated a “buy” rating on shares of M&T Bank Corp. in a research note on Friday, August 12th. Jefferies Group reissued a “hold” rating and set a $111.00 price objective (down from $116.00) on shares of M&T Bank Corp. in a research report on Thursday, July 21st. FBR & Co lowered their price objective on M&T Bank Corp. from $120.00 to $105.00 and set a “hold” rating for the company in a research report on Thursday, July 21st. Credit Suisse Group AG reissued a “hold” rating on shares of M&T Bank Corp. in a research report on Tuesday, July 12th. Finally, Zacks Investment Research raised M&T Bank Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $137.48.

M&T Bank Corp. Company Profile

M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.

5 Day Chart for NYSE:MTB

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