M&T Bank Co. (NYSE:MTB) announced a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders of record on Monday, March 2nd will be paid a dividend of 1.10 per share by the financial services provider on Tuesday, March 31st. This represents a $4.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Friday, February 28th.
M&T Bank has increased its dividend payment by an average of 13.6% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. M&T Bank has a dividend payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect M&T Bank to earn $14.77 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 29.8%.
MTB opened at $153.46 on Thursday. M&T Bank has a 52-week low of $141.50 and a 52-week high of $175.72. The firm has a market capitalization of $20.34 billion, a PE ratio of 11.15, a PEG ratio of 1.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 1.08. The business’s 50-day simple moving average is $167.66 and its 200 day simple moving average is $161.03.
M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.13. M&T Bank had a return on equity of 13.37% and a net margin of 27.79%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company earned $3.79 earnings per share. On average, research analysts forecast that M&T Bank will post 14 earnings per share for the current year.
A number of equities research analysts recently issued reports on the company. Citigroup increased their price target on M&T Bank from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Bank of America raised M&T Bank from an “underperform” rating to a “neutral” rating and set a $169.00 price target on the stock in a research report on Thursday, January 23rd. Nomura reissued a “hold” rating and set a $176.00 price target on shares of M&T Bank in a research report on Monday, January 27th. Goldman Sachs Group cut M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the stock from $169.00 to $184.00 in a research note on Monday, January 6th. Finally, Wedbush increased their price target on M&T Bank from $169.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $172.64.
About M&T Bank
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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