Curi RMB Capital LLC Grows Stock Holdings in M&T Bank Co. (NYSE:MTB)

Curi RMB Capital LLC lifted its holdings in M&T Bank Co. (NYSE:MTB) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,404 shares of the financial services provider’s stock after acquiring an additional 854 shares during the period. Curi RMB Capital LLC’s holdings in M&T Bank were worth $8,265,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd increased its holdings in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the third quarter valued at about $32,000. Hexagon Capital Partners LLC grew its stake in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in shares of M&T Bank during the 2nd quarter valued at about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. The trade was a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,854 shares of company stock worth $13,637,588. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTB shares. Morgan Stanley increased their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. DA Davidson boosted their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Friday, October 4th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $198.76.

M&T Bank Stock Performance

MTB stock opened at $213.27 on Friday. The stock’s 50 day simple moving average is $185.26 and its 200 day simple moving average is $166.25. M&T Bank Co. has a 12-month low of $123.37 and a 12-month high of $216.84. The firm has a market cap of $35.39 billion, a P/E ratio of 15.79, a P/E/G ratio of 2.98 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. As a group, equities research analysts predict that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Dividend Announcement

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

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.