M&T Bank Co. (NYSE:MTB) Declares Dividend Increase – $1.10 Per Share

M&T Bank Co. (NYSE:MTB) announced a quarterly dividend on Tuesday, November 19th, RTT News reports. Stockholders of record on Monday, December 2nd will be given a dividend of 1.10 per share by the financial services provider on Tuesday, December 31st. This represents a $4.40 annualized dividend and a dividend yield of 2.70%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.00.

Shares of NYSE:MTB traded down $0.10 during trading on Wednesday, hitting $162.78. The company had a trading volume of 5,739 shares, compared to its average volume of 594,144. The stock has a market cap of $21.64 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11. M&T Bank has a one year low of $133.78 and a one year high of $176.11. The company has a fifty day simple moving average of $158.44 and a two-hundred day simple moving average of $160.24. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.06 and a quick ratio of 1.06.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $3.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.12). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.53 billion. M&T Bank had a net margin of 28.58% and a return on equity of 13.82%. During the same period in the previous year, the business earned $3.53 earnings per share. On average, equities research analysts anticipate that M&T Bank will post 13.65 earnings per share for the current year.

Several equities research analysts have recently issued reports on the company. Wedbush lowered their price objective on M&T Bank from $166.00 to $163.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Keefe, Bruyette & Woods lowered M&T Bank from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $168.00 to $160.00 in a research note on Friday, October 18th. Cfra lowered M&T Bank to a “hold” rating and decreased their price target for the stock from $182.00 to $165.00 in a research note on Thursday, October 24th. Odeon Capital Group initiated coverage on M&T Bank in a research note on Friday, September 27th. They set a “hold” rating for the company. Finally, Jefferies Financial Group lowered M&T Bank from a “buy” rating to a “hold” rating and decreased their price target for the stock from $185.00 to $167.00 in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $167.62.

In other M&T Bank news, CFO Darren J. King sold 3,968 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $162.59, for a total transaction of $645,157.12. Following the transaction, the chief financial officer now directly owns 42,295 shares in the company, valued at approximately $6,876,744.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Richard S. Gold sold 4,093 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $169.43, for a total value of $693,476.99. Following the transaction, the chief operating officer now owns 38,936 shares in the company, valued at $6,596,926.48. The disclosure for this sale can be found here. Insiders have sold a total of 24,466 shares of company stock valued at $4,078,074 over the last three months. 0.54% of the stock is owned by corporate insiders.

About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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