M&T Bank Co. (MTB) To Go Ex-Dividend on December 2nd

M&T Bank Co. (NYSE:MTB) declared a quarterly dividend on Tuesday, November 19th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, December 2nd.

M&T Bank has a dividend payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect M&T Bank to earn $16.40 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 Stock Down 0.1 %

Shares of M&T Bank stock opened at $213.52 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day moving average is $189.91 and its two-hundred day moving average is $168.63. M&T Bank has a 1 year low of $123.46 and a 1 year high of $216.84. The stock has a market cap of $35.43 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 3.01 and a beta of 0.74.

M&T Bank (NYSE:MTB) last announced its 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, research analysts expect that M&T Bank will post 14.56 earnings per share for the current fiscal year.

Insider Transactions at M&T Bank

In other news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This trade represents a 18.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael J. Todaro sold 4,786 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total transaction of $1,024,682.60. Following the completion of the transaction, the executive vice president now owns 2,787 shares of the company’s stock, valued at $596,696.70. This trade represents a 63.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,383 shares of company stock worth $13,576,801 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group boosted their price target on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. Barclays lifted their price objective on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Bank of America lifted 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $199.65.

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.