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.
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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.
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