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

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) annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, December 1st.

M&T Bank has increased its dividend payment 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 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 Stock Up 0.7%

MTB opened at $182.24 on Wednesday. The business’s 50-day simple moving average is $189.14 and its 200-day simple moving average is $189.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank has a one year low of $150.75 and a one year high of $225.70. The stock has a market capitalization of $28.01 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66.

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

Analyst Ratings Changes

MTB has been the subject of several research reports. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Cowen reaffirmed a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Piper Sandler began coverage on M&T Bank in a report on Monday, October 6th. They set an “overweight” rating and a $225.00 price target on the stock. Cantor Fitzgerald started coverage on M&T Bank in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price target on the stock. Finally, Truist Financial decreased their price objective on M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.76.

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