Mar 10, 2021 / 03:40PM GMT
Gerard Sean Cassidy - RBC Capital Markets, Research Division - MD, Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst
Good morning, everyone. This is Gerard Cassidy from RBC Capital Markets. Welcome to our 25th Annual Financial Institutions Conference. In our next fireside chat, we have M&T Bank Corporation, and as some of you know it's the 16th largest bank with about $143 billion in assets. But with the recently announced acquisition of People's United, it throws them up into the 11th largest bank in the country with $200 billion in assets when that deal closes later this year. Company's market cap is approximately $20 billion and the stock trades about 1.4x booked. Has a dividend yield of just under 3% at 2.9% and the company is probably one of the best managers of capital over the 25-plus years, but with the deal pending there is no buybacks going on at this time.
We are very pleased to have with us today René Jones, Chairman and CEO of M&T Bank Corporation. As some of you know, René joined the bank way back in the early '90s. And has been instrumental in their growth
M&T Bank Corp at RBC Capital Markets Global Financial Institutions Conference (Virtual) Transcript
Jan 23, 2024
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