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

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

M&T Bank has raised its dividend payment by an average of 0.1%annually over the last three years. M&T Bank has a dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

M&T Bank stock opened at $251.73 on Wednesday. The company 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. M&T Bank has a 12 month low of $174.76 and a 12 month high of $255.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50-day moving average is $242.38 and its 200-day moving average is $225.16.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period in the prior year, the company earned $4.28 EPS. Equities analysts anticipate that M&T Bank will post 19.42 earnings per share for the current year.

Institutional Investors Weigh In On M&T Bank

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

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.