M&T Bank Co. (MTB) Declares Quarterly Dividend of $0.70
M&T Bank Co. (NYSE:MTB) declared a quarterly dividend on Wednesday, August 20th, Stock Ratings Network reports. Shareholders of record on Tuesday, September 2nd will be paid a dividend of 0.70 per share on Tuesday, September 30th. This represents a $2.80 annualized dividend and a dividend yield of 2.31%.
Several analysts have recently commented on the stock. Analysts at Keefe, Bruyette & Woods upgraded shares of M&T Bank Co. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 21st. They now have a $141.00 price target on the stock, up previously from $125.00. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of M&T Bank Co. in a research note on Friday, July 18th. They now have a $128.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of M&T Bank Co. from $118.00 to $120.00 in a research note on Friday, July 18th. They now have a “market perform” rating on the stock. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $124.12.
Shares of M&T Bank Co. (NYSE:MTB) remained flat at $121.40 during during mid-day trading trading on Wednesday. 300,744 shares of the company’s stock traded hands. M&T Bank Co. has a 52 week low of $109.16 and a 52 week high of $125.90. The stock has a 50-day moving average of $121.8 and a 200-day moving average of $120.1. The company has a market cap of $16.021 billion and a price-to-earnings ratio of 16.70.
M&T Bank Co. (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.08. During the same quarter in the previous year, the company posted $2.55 earnings per share. On average, analysts predict that M&T Bank Co. will post $7.62 earnings per share for the current fiscal year.
In other M&T Bank Co. news, EVP Kevin J. Pearson sold 10,055 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $120.07, for a total value of $1,207,303.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
M&T Bank Corporation (NYSE:MTB) is a bank holding company.
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