M&T Bank Co. (NYSE:MTB) Holdings Increased by Curi RMB Capital LLC

Curi RMB Capital LLC lifted its stake in M&T Bank Co. (NYSE:MTB) by 1.9% in the third quarter, HoldingsChannel reports. The fund owned 46,404 shares of the financial services provider’s stock after purchasing an additional 854 shares during the quarter. Curi RMB Capital LLC’s holdings in M&T Bank were worth $8,265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hedeker Wealth LLC grew its holdings in M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 55 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 57 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 57 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Finally, Meitav Investment House Ltd. boosted its stake in shares of M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent analyst reports. DA Davidson raised their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Royal Bank of Canada lifted their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price objective on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America lifted their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Citigroup increased their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $198.76.

M&T Bank Price Performance

NYSE:MTB opened at $213.27 on Friday. The company has a market capitalization of $35.39 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.98 and a beta of 0.74. The company has a 50-day moving average of $185.26 and a 200-day moving average of $166.25. M&T Bank Co. has a 52 week low of $123.37 and a 52 week high of $216.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.53%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Transactions at M&T Bank

In other news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,854 shares of company stock valued at $13,637,588 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.