M&T Bank Co. (MTB) Declares Quarterly Dividend of $0.70
M&T Bank Co. (NYSE:MTB) declared a quarterly dividend on Wednesday, February 19th, American Banking & Market News reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.70 per share on Monday, March 31st. This represents a $2.80 dividend on an annualized basis and a yield of 2.46%.
A number of research firms have recently commented on MTB. Analysts at SunTrust upgraded shares of M&T Bank Co. from a “neutral” rating to a “buy” rating in a research note on Wednesday. On a related note, analysts at Zacks downgraded shares of M&T Bank Co. from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $104.00 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of M&T Bank Co. from $112.00 to $120.00 in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. M&T Bank Co. has a consensus rating of “Hold” and an average price target of $121.41.
M&T Bank Co. (NYSE:MTB) traded down 1.31% during mid-day trading on Wednesday, hitting $112.24. The stock had a trading volume of 942,136 shares. M&T Bank Co. has a one year low of $95.68 and a one year high of $119.54. The stock’s 50-day moving average is $113.2 and its 200-day moving average is $113.8. The company has a market cap of $14.654 billion and a price-to-earnings ratio of 13.87.
M&T Bank Co. (NYSE:MTB) last issued its quarterly earnings data on Friday, January 17th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by $0.20. During the same quarter in the previous year, the company posted $2.16 earnings per share. Analysts expect that M&T Bank Co. will post $7.80 EPS for the current fiscal year.
In other M&T Bank Co. news, EVP Stephen Braunscheidel sold 7,000 shares of M&T Bank Co. stock on the open market in a transaction dated Monday, February 10th. The shares were sold at an average price of $112.50, for a total transaction of $787,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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