M&T Bank Co. Plans Quarterly Dividend of $0.75 (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) announced a quarterly dividend on Tuesday, November 21st, RTT News reports. Investors of record on Friday, December 1st will be paid a dividend of 0.75 per share by the financial services provider on Friday, December 29th. This represents a $3.00 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, November 30th.

M&T Bank has a dividend payout ratio of 33.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect M&T Bank 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 (NYSE MTB) traded up $1.56 during trading on Thursday, reaching $171.07. The company’s stock had a trading volume of 463,754 shares, compared to its average volume of 746,246. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $25,652.34, a price-to-earnings ratio of 19.41, a P/E/G ratio of 2.08 and a beta of 0.84. M&T Bank has a one year low of $141.12 and a one year high of $176.62.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.19). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.43 billion. M&T Bank had a return on equity of 8.94% and a net margin of 25.13%. During the same period in the prior year, the firm posted $2.10 EPS. equities analysts forecast that M&T Bank will post 9.1 EPS for the current year.

In other news, insider Randolph Michael Kasum sold 530,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $0.08, for a total value of $42,400.00. Also, insider Sabeth Siddique sold 950 shares of the firm’s stock in a transaction that occurred 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 completion of 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 three months, insiders have purchased 671,000 shares of company stock valued at $55,870 and have sold 1,691,680 shares valued at $2,074,471. Corporate insiders own 3.18% of the company’s stock.

Several equities analysts have recently issued reports on MTB shares. ValuEngine raised M&T Bank from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Instinet reaffirmed a “neutral” rating and set a $145.00 price target (up previously from $144.00) on shares of M&T Bank in a research note on Saturday, September 30th. Nomura upped their price target on M&T Bank from $144.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, September 28th. Wells Fargo & Company started coverage on M&T Bank in a report on Wednesday, August 9th. They issued a “market perform” rating and a $170.00 price objective for the company. Finally, Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. M&T Bank currently has an average rating of “Hold” and a consensus price target of $162.56.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.thelincolnianonline.com/2017/12/07/mt-bank-corporation-mtb-announces-0-75-quarterly-dividend-updated-updated.html.

M&T Bank 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 (NYSE:MTB)

Receive News & Ratings for M&T Bank Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply