Trade Report: Today, M&T Bank Corp. (MTB) To Go Ex-Dividend on November 30th

Today, M&T Bank Corp. (MTB) To Go Ex-Dividend on November 30th

M&T Bank Corp. (NYSE:MTB) announced a quarterly dividend on Tuesday, November 22nd. Stockholders of record on Friday, December 2nd will be paid a dividend of 0.70 per share on Friday, December 30th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, November 30th.

Shares of M&T Bank Corp. (NYSE:MTB) opened at 140.72 on Tuesday. M&T Bank Corp. has a one year low of $100.08 and a one year high of $143.99. The stock has a market cap of $21.82 billion, a P/E ratio of 18.88 and a beta of 0.70. The stock’s 50 day moving average is $126.70 and its 200-day moving average is $119.04.

M&T Bank Corp. (NYSE:MTB) last released its quarterly earnings data on Wednesday, October 19th. The company reported $2.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.09. M&T Bank Corp. had a net margin of 22.32% and a return on equity of 8.59%. During the same period last year, the firm earned $1.93 earnings per share. On average, equities analysts forecast that M&T Bank Corp. will post $7.89 EPS for the current year.

A number of equities analysts have commented on the stock. Barclays PLC reiterated a “buy” rating on shares of M&T Bank Corp. in a report on Friday, August 12th. Zacks Investment Research upgraded shares of M&T Bank Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Sanford C. Bernstein reiterated a “market perform” rating on shares of M&T Bank Corp. in a report on Saturday, November 19th. FBR & Co boosted their target price on shares of M&T Bank Corp. from $115.00 to $120.00 and gave the stock a “mkt perform” rating in a report on Thursday, October 20th. Finally, Wedbush assumed coverage on shares of M&T Bank Corp. in a report on Thursday, October 6th. They issued a “neutral” rating and a $117.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. M&T Bank Corp. presently has a consensus rating of “Hold” and an average target price of $120.50.

In other news, insider Robert J. Bojdak sold 1,095 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $122.01, for a total transaction of $133,600.95. Following the transaction, the insider now owns 21,373 shares in the company, valued at approximately $2,607,719.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert G. Wilmers sold 60,363 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $118.32, for a total value of $7,142,150.16. Following the transaction, the chief executive officer now owns 2,490,996 shares in the company, valued at approximately $294,734,646.72. The disclosure for this sale can be found here. Insiders own 3.63% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its position in shares of M&T Bank Corp. by 14.5% in the second quarter. Canada Pension Plan Investment Board now owns 12,019 shares of the company’s stock worth $1,421,000 after buying an additional 1,520 shares during the period. Employees Retirement System of Texas raised its position in shares of M&T Bank Corp. by 100.0% in the second quarter. Employees Retirement System of Texas now owns 10,000 shares of the company’s stock worth $1,182,000 after buying an additional 5,000 shares during the period. Engineers Gate Manager LP acquired a new position in shares of M&T Bank Corp. during the second quarter worth about $1,454,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of M&T Bank Corp. by 4.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 25,706 shares of the company’s stock worth $3,039,000 after buying an additional 1,000 shares during the period. Finally, Burney Co. acquired a new position in shares of M&T Bank Corp. during the second quarter worth about $203,000. Hedge funds and other institutional investors own 76.96% of the company’s stock.

About M&T Bank Corp.

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