M&T Bank (MTB) Declares $1.30 Dividend
M&T Bank said on February 21, 2024 that its board of directors declared a regular quarterly dividend of $1.30 per share ($5.20 annualized). Previously, the company paid $1.30 per share.
Shares must be purchased before the ex-div date of March 1, 2024 to qualify for the dividend. Shareholders of record as of March 4, 2024 will receive the payment on March 29, 2024.
At the current share price of $138.10 / share, the stock's dividend yield is 3.77%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.26%, the lowest has been 2.29%, and the highest has been 4.99%. The standard deviation of yields is 0.70 (n=234).
The current dividend yield is 0.72 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.32. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1649 funds or institutions reporting positions in M&T Bank. This is an increase of 87 owner(s) or 5.57% in the last quarter. Average portfolio weight of all funds dedicated to MTB is 0.26%, a decrease of 2.14%. Total shares owned by institutions increased in the last three months by 4.16% to 163,461K shares. 
The put/call ratio of MTB is 1.42, indicating a bearish outlook.
Analyst Price Forecast Suggests 14.48% Upside
As of February 24, 2024, the average one-year price target for M&T Bank is 158.09. The forecasts range from a low of 128.32 to a high of $189.00. The average price target represents an increase of 14.48% from its latest reported closing price of 138.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for M&T Bank is 9,678MM, an increase of 7.56%. The projected annual non-GAAP EPS is 19.61.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 13,341K shares representing 8.03% ownership of the company. In it's prior filing, the firm reported owning 14,209K shares, representing a decrease of 6.51%. The firm decreased its portfolio allocation in MTB by 86.36% over the last quarter.
Jpmorgan Chase holds 6,998K shares representing 4.21% ownership of the company. In it's prior filing, the firm reported owning 6,072K shares, representing an increase of 13.22%. The firm increased its portfolio allocation in MTB by 8.79% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,160K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 5,187K shares, representing a decrease of 0.53%. The firm increased its portfolio allocation in MTB by 5.50% over the last quarter.
Invesco holds 4,852K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 4,841K shares, representing an increase of 0.22%. The firm decreased its portfolio allocation in MTB by 91.25% over the last quarter.
State Farm Mutual Automobile Insurance holds 4,123K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 4,228K shares, representing a decrease of 2.56%. The firm increased its portfolio allocation in MTB by 1.06% over the last quarter.
M & T Bank Background Information
(This description is provided by the company.)
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
Additional reading:
- M&T Bank Corporation Employee Severance Pay Plan, restated June 1, 2021 (with amended Appendix A effective March 28, 2022). Filed herewith.*
- First Amendment, effective November 30, 2023, to the M&T Bank Corporation Leadership Retirement Savings Plan, as amended and restated effective as of January 1, 2020. Filed herewith.*
- M&T Bank Corporation Form of Performance Share Unit Award Agreement. Filed herewith.*
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