M&T Bank Corp. (NYSE:MTB) declared a quarterly dividend on Tuesday, November 22nd. Stockholders of record on Friday, December 2nd will be paid a dividend of 0.70 per share on Friday, December 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%.

Shares of M&T Bank Corp. (NYSE:MTB) traded up 0.87% during trading on Tuesday, hitting $142.29. The stock had a trading volume of 1,451,023 shares. The stock’s 50-day moving average is $123.62 and its 200-day moving average is $118.22. M&T Bank Corp. has a 12-month low of $100.08 and a 12-month high of $142.65. The stock has a market capitalization of $22.06 billion, a P/E ratio of 19.09 and a beta of 0.70.

M&T Bank Corp. (NYSE:MTB) last released its earnings results on Wednesday, October 19th. The company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.09. M&T Bank Corp. had a return on equity of 8.59% and a net margin of 22.32%. During the same period in the prior year, the company earned $1.93 EPS. Analysts predict that M&T Bank Corp. will post $7.89 EPS for the current fiscal year.

Dividend History for M&T Bank Corp. (NYSE:MTB)

In related news, insider Robert J. Bojdak sold 1,152 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $117.37, for a total value of $135,210.24. Following the sale, the insider now owns 21,430 shares of the company’s stock, valued at $2,515,239.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian E. Hickey sold 13,167 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $124.98, for a total transaction of $1,645,611.66. Following the completion of the sale, the insider now directly owns 25,055 shares in the company, valued at approximately $3,131,373.90. The disclosure for this sale can be found here. Insiders own 3.63% of the company’s stock.

Several hedge funds have recently modified their holdings of MTB. FMR LLC boosted its stake in shares of M&T Bank Corp. by 5.1% in the second quarter. FMR LLC now owns 11,404,841 shares of the company’s stock valued at $1,348,394,000 after buying an additional 554,251 shares in the last quarter. Credit Suisse AG boosted its stake in shares of M&T Bank Corp. by 27.0% in the third quarter. Credit Suisse AG now owns 287,220 shares of the company’s stock valued at $33,347,000 after buying an additional 61,078 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in shares of M&T Bank Corp. during the second quarter valued at $5,474,000. Thrivent Financial for Lutherans boosted its stake in shares of M&T Bank Corp. by 9.6% in the second quarter. Thrivent Financial for Lutherans now owns 482,241 shares of the company’s stock valued at $57,015,000 after buying an additional 42,420 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in shares of M&T Bank Corp. by 781.1% in the second quarter. Korea Investment CORP now owns 46,700 shares of the company’s stock valued at $5,521,000 after buying an additional 41,400 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

MTB has been the topic of a number of recent research reports. Zacks Investment Research raised M&T Bank Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, September 20th. FBR & Co lifted their price target on M&T Bank Corp. from $115.00 to $120.00 and gave the stock a “mkt perform” rating in a report on Thursday, October 20th. Wedbush started coverage on M&T Bank Corp. in a report on Thursday, October 6th. They set a “neutral” rating and a $117.00 price target for the company. Robert W. Baird reiterated an “underperform” rating on shares of M&T Bank Corp. in a report on Thursday, August 4th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of M&T Bank Corp. in a report on Saturday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $120.50.

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About M&T Bank Corp.

M&T Bank Corporation (M&T) is a bank holding company. The Company, through its subsidiaries, M&T Bank and Wilmington Trust, National Association (Wilmington Trust, N.A.), offer a range of retail and commercial banking, trust and wealth management, and investment services to their customers. M&T’s segments include Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking and Retail Banking.

5 Day Chart for NYSE:MTB

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