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

M&T Bank Corporation (NYSE:MTB) announced a quarterly dividend on Tuesday, August 18th. Stockholders of record on Tuesday, September 1st will be given a dividend of 1.50 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, September 1st.

M&T Bank has raised its dividend by an average of 0.1%per year over the last three years. M&T Bank has a dividend payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect M&T Bank to earn $21.20 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 28.3%.

M&T Bank Trading Down 0.4%

Shares of M&T Bank stock opened at $251.73 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The firm has a market cap of $36.35 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.18 and a beta of 0.57. The business has a fifty day simple moving average of $242.38 and a 200-day simple moving average of $225.16. M&T Bank has a fifty-two week low of $174.76 and a fifty-two week high of $255.95.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same quarter last year, the business posted $4.28 earnings per share. On average, equities analysts forecast that M&T Bank will post 19.42 EPS for the current fiscal year.

Institutional Investors Weigh In On M&T Bank

Several hedge funds have recently made changes to their positions in the company. Commonwealth Retirement Investments LLC raised its position in M&T Bank by 0.4% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock valued at $2,214,000 after purchasing an additional 44 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of M&T Bank by 2.4% in the 4th quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 52 shares during the period. CX Institutional increased its position in shares of M&T Bank by 3.4% during the 2nd quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 54 shares during the last quarter. Bank of Jackson Hole Trust raised its holdings in M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after buying an additional 60 shares during the period. Finally, Thoroughbred Financial Services LLC raised its holdings in M&T Bank by 2.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 3,465 shares of the financial services provider’s stock valued at $698,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.