M&T Bank Co. (MTB) to Issue Quarterly Dividend of $1.35 on December 31st

M&T Bank Co. (NYSE:MTB) announced a quarterly dividend on Tuesday, November 19th,RTT News reports. Investors of record on Monday, December 2nd will be given a dividend of 1.35 per share by the financial services provider on Tuesday, December 31st. This represents a $5.40 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, December 2nd.

M&T Bank has a payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect M&T Bank to earn $16.45 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 32.8%.

M&T Bank Stock Performance

Shares of MTB stock opened at $219.99 on Friday. The company has a market cap of $36.50 billion, a P/E ratio of 16.28, a PEG ratio of 3.11 and a beta of 0.74. The business has a 50 day moving average of $196.45 and a two-hundred day moving average of $171.86. M&T Bank has a 52 week low of $125.61 and a 52 week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, analysts anticipate that M&T Bank will post 14.57 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on MTB. Bank of America upped their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. Piper Sandler lifted their price target on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company lifted their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $206.41.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This represents a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,504 shares of company stock valued at $18,394,012. 0.82% of the stock is owned by insiders.

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.