5,587 Shares in M&T Bank Co. (NYSE:MTB) Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new position in shares of M&T Bank Co. (NYSE:MTB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,587 shares of the financial services provider’s stock, valued at approximately $846,000.

Several other institutional investors also recently bought and sold shares of MTB. Principal Securities Inc. purchased a new position in M&T Bank during the fourth quarter worth approximately $34,000. Jump Financial LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $203,000. Corient Private Wealth LLC increased its holdings in M&T Bank by 93.5% in the fourth quarter. Corient Private Wealth LLC now owns 48,351 shares of the financial services provider’s stock valued at $6,628,000 after buying an additional 23,362 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of M&T Bank during the 4th quarter worth about $737,000. Finally, Congress Wealth Management LLC DE purchased a new stake in shares of M&T Bank during the 4th quarter worth approximately $364,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Price Performance

NYSE:MTB opened at $177.62 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $29.64 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $180.63. The company’s 50-day moving average price is $167.85 and its two-hundred day moving average price is $153.83.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period last year, the firm posted $5.12 EPS. On average, equities analysts anticipate that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Analysts Set New Price Targets

Several research firms have commented on MTB. Morgan Stanley lifted their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Jefferies Financial Group increased their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Evercore ISI raised their price target on M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, DA Davidson upped their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $175.85.

Insider Transactions at M&T Bank

In related news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock worth $5,115,349. Corporate insiders own 0.82% of the company’s stock.

M&T Bank 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.