M&T Bank Co. (NYSE:MTB) Announces Quarterly Dividend of $1.35

M&T Bank Co. (NYSE:MTB) declared a quarterly dividend on Tuesday, November 19th,RTT News reports. Investors of record on Monday, December 2nd will be paid a dividend of 1.35 per share by the financial services provider on Tuesday, December 31st. This represents a $5.40 dividend on an annualized basis and a yield of 2.55%.

M&T Bank has a dividend payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Analysts expect M&T Bank to earn $16.41 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 32.9%.

M&T Bank Trading Down 0.8 %

Shares of NYSE:MTB traded down $1.67 during trading on Wednesday, hitting $212.04. The company had a trading volume of 87,581 shares, compared to its average volume of 1,039,738. The stock has a market cap of $35.18 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74. M&T Bank has a one year low of $123.46 and a one year high of $216.84. The company has a fifty day simple moving average of $188.96 and a two-hundred day simple moving average of $168.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate 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, equities analysts forecast that M&T Bank will post 14.56 earnings per share for the current year.

Wall Street Analyst Weigh In

MTB has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Bank of America upped their price target on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group upped their price target on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $199.65.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the transaction, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,383 shares of company stock worth $13,576,801. 0.82% of the stock is owned by company insiders.

M&T Bank Company Profile

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.