M&T Bank Corporation (NYSE:MTB) Announces $1.50 Quarterly Dividend

M&T Bank Corporation (NYSE:MTB) declared a quarterly dividend on Tuesday, November 18th. Shareholders of record on Monday, December 1st will be given a dividend of 1.50 per share by the financial services provider on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, December 1st.

M&T Bank has increased its dividend by an average of 0.1%annually over the last three years. M&T Bank has a payout ratio of 37.3% 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 $6.00 annual dividend with an expected future payout ratio of 32.1%.

M&T Bank Price Performance

Shares of NYSE MTB opened at $181.59 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $27.91 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. M&T Bank has a twelve month low of $150.75 and a twelve month high of $225.70. The business has a 50 day simple moving average of $189.14 and a 200-day simple moving average of $189.81.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The firm had revenue of $1.54 billion during the quarter. As a group, equities research analysts expect that M&T Bank will post 16.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, October 20th. UBS Group upped their price objective on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Truist Financial cut their target price on M&T Bank from $227.00 to $217.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Evercore ISI increased their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Moderate Buy” and a consensus price target of $217.76.

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.