M&T Bank Corporation (MTB) to Issue Quarterly Dividend of $1.50 on September 30th

M&T Bank Corporation (NYSE:MTB) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Investors of record on Tuesday, September 2nd will be paid a dividend of 1.50 per share by the financial services provider on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. This is a 11.1% increase from M&T Bank’s previous quarterly dividend of $1.35.

M&T Bank has a dividend payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 1.5%

Shares of NYSE MTB opened at $193.2560 on Thursday. The company’s 50 day simple moving average is $192.13 and its 200 day simple moving average is $183.66. M&T Bank has a fifty-two week low of $150.75 and a fifty-two week high of $225.70. The firm has a market capitalization of $30.20 billion, a P/E ratio of 12.52, a P/E/G ratio of 0.93 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.24. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same period in the prior year, the business posted $3.73 earnings per share. On average, analysts predict that M&T Bank will post 16.57 EPS for the current year.

Insider Activity at M&T Bank

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the transaction, the director owned 4,881 shares of the company’s stock, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director directly owned 23,070 shares of the company’s stock, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,438 shares of company stock valued at $1,967,346. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in shares of M&T Bank by 4.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 71 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in M&T Bank in the 2nd quarter worth about $84,000. MUFG Securities EMEA plc acquired a new stake in M&T Bank in the 2nd quarter worth about $92,000. Lazard Asset Management LLC raised its position in shares of M&T Bank by 24.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider’s stock valued at $562,000 after buying an additional 572 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of M&T Bank by 0.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 20,489 shares of the financial services provider’s stock valued at $3,975,000 after buying an additional 67 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.