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

M&T Bank Corporation (NYSE:MTB) declared a quarterly dividend on Tuesday, April 21st. Investors of record on Monday, June 1st will be paid a dividend of 1.50 per share by the financial services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, June 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 payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect M&T Bank to earn $20.77 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 28.9%.

M&T Bank Trading Down 0.3%

Shares of M&T Bank stock opened at $219.04 on Wednesday. The firm has a market capitalization of $32.64 billion, a PE ratio of 12.26, a P/E/G ratio of 1.11 and a beta of 0.60. M&T Bank has a twelve month low of $158.53 and a twelve month high of $239.00. The firm’s 50-day moving average price is $214.16 and its 200 day moving average price is $204.64. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same period last year, the company posted $3.32 EPS. On average, sell-side analysts predict that M&T Bank will post 18.68 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 31st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.