M&T Bank Corporation (MTB) Plans $0.75 Quarterly Dividend

M&T Bank Corporation (NYSE:MTB) declared a quarterly dividend on Tuesday, November 21st, RTT News reports. Shareholders of record on Friday, December 1st will be given a dividend of 0.75 per share by the financial services provider on Friday, December 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.86%.

M&T Bank Corporation has a payout ratio of 33.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect M&T Bank Corporation to earn $9.91 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 30.3%.

M&T Bank Corporation (MTB) traded up $1.04 during trading on Tuesday, hitting $161.61. The company’s stock had a trading volume of 291,100 shares, compared to its average volume of 754,104. The company has a market cap of $24,190.00, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.96 and a beta of 0.85. M&T Bank Corporation has a 52-week low of $139.79 and a 52-week high of $173.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.05 and a quick ratio of 1.05.

M&T Bank Corporation (NYSE:MTB) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). M&T Bank Corporation had a return on equity of 9.52% and a net margin of 23.97%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. sell-side analysts expect that M&T Bank Corporation will post 9.1 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on the company. Macquarie lowered M&T Bank Corporation from a “neutral” rating to an “underperform” rating in a research report on Friday, August 4th. Zacks Investment Research raised M&T Bank Corporation from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a research report on Tuesday, September 19th. Citigroup Inc. reaffirmed a “neutral” rating and set a $170.00 target price (up from $160.00) on shares of M&T Bank Corporation in a research report on Monday, October 9th. Wells Fargo & Company assumed coverage on M&T Bank Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $170.00 target price on the stock. Finally, BidaskClub lowered M&T Bank Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $161.89.

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In other news, VP Michele D. Trolli sold 9,730 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $167.89, for a total transaction of $1,633,569.70. Following the completion of the sale, the vice president now directly owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sabeth Siddique sold 950 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $147.17, for a total value of $139,811.50. Following the sale, the insider now directly owns 1,488 shares of the company’s stock, valued at $218,988.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 938,000 shares of company stock valued at $78,840 and have sold 1,690,680 shares valued at $1,903,281. Company insiders own 3.18% of the company’s stock.

M&T Bank Corporation Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

Dividend History for M&T Bank Corporation (NYSE:MTB)

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