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

M&T Bank Co. (NYSE:MTB) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 1.35 per share by the financial services provider on Monday, March 31st. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Monday, March 3rd.

M&T Bank has a dividend payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect M&T Bank to earn $18.68 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 28.9%.

M&T Bank Stock Down 0.8 %

Shares of M&T Bank stock opened at $197.63 on Friday. The company’s fifty day simple moving average is $195.20 and its two-hundred day simple moving average is $189.64. M&T Bank has a 12-month low of $133.03 and a 12-month high of $225.70. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a market cap of $32.79 billion, a P/E ratio of 13.51, a PEG ratio of 1.40 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the business posted $2.74 EPS. Research analysts anticipate that M&T Bank will post 16.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MTB shares. Evercore ISI lifted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. Barclays raised their price target on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank announced that its board has authorized a share buyback program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by corporate insiders.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.