Frank Rimerman Advisors LLC Raises Stock Position in M&T Bank Co. (NYSE:MTB)

Frank Rimerman Advisors LLC lifted its stake in M&T Bank Co. (NYSE:MTB) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,644 shares of the financial services provider’s stock after buying an additional 57 shares during the period. Frank Rimerman Advisors LLC’s holdings in M&T Bank were worth $1,005,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its position in shares of M&T Bank by 1.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 30,240 shares of the financial services provider’s stock worth $5,272,000 after purchasing an additional 361 shares in the last quarter. Forsta AP Fonden grew its stake in M&T Bank by 11.3% during the 3rd quarter. Forsta AP Fonden now owns 35,400 shares of the financial services provider’s stock worth $6,305,000 after buying an additional 3,600 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in M&T Bank by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 111,772 shares of the financial services provider’s stock worth $19,607,000 after buying an additional 13,385 shares during the period. Allworth Financial LP lifted its stake in M&T Bank by 7.3% in the third quarter. Allworth Financial LP now owns 1,260 shares of the financial services provider’s stock valued at $224,000 after buying an additional 86 shares during the last quarter. Finally, Hudock Inc. boosted its holdings in shares of M&T Bank by 3.5% in the third quarter. Hudock Inc. now owns 10,402 shares of the financial services provider’s stock valued at $1,853,000 after acquiring an additional 347 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Down 1.0 %

MTB stock opened at $192.57 on Monday. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $176.21 and its 200 day moving average price is $160.86. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $200.94. The company has a market cap of $32.13 billion, a P/E ratio of 14.25, a P/E/G ratio of 2.75 and a beta of 0.75.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 39.97%.

Wall Street Analysts Forecast Growth

MTB has been the subject of several research reports. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $187.00 to $210.00 in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company lifted their target price on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $197.47.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.28, for a total value of $989,096.60. Following the sale, the insider now owns 47,944 shares of the company’s stock, valued at approximately $7,780,352.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the sale, the insider now owns 47,944 shares of the company’s stock, valued at $7,780,352.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,727 shares of company stock valued at $7,437,558 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

About M&T Bank

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.