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

Frank Rimerman Advisors LLC grew its position in shares of M&T Bank Co. (NYSE:MTB) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,644 shares of the financial services provider’s stock after purchasing an additional 57 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in M&T Bank were worth $1,005,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MTB. Marshall Wace LLP raised its position in M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after acquiring an additional 472,997 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in M&T Bank by 17,784.1% in the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after purchasing an additional 109,550 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of M&T Bank by 195.1% in the first quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock valued at $19,480,000 after buying an additional 83,814 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on MTB shares. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wedbush boosted their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Citigroup raised their target price on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America raised their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $197.47.

M&T Bank Trading Down 1.0 %

NYSE MTB opened at $192.57 on Monday. M&T Bank Co. has a one year low of $108.53 and a one year high of $200.94. The firm has a 50 day simple moving average of $176.21 and a 200-day simple moving average of $160.86. The firm has a market cap of $32.13 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 2.75 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 annualized dividend and a dividend yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Insider Activity

In related news, Director Kirk W. Walters sold 2,471 shares of the business’s 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 completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Kirk W. Walters sold 2,471 shares of M&T Bank 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 $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the transaction, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,727 shares of company stock worth $7,437,558. 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.