M&T Bank Corporation $MTB Shares Purchased by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC increased its stake in M&T Bank by 56.5%, owning 104,042 shares valued at approximately $18.6 million.
• Directors Robert E. Sadler, Jr. and Richard H. Jr. Ledgett sold a total of 8,000 shares of M&T Bank, indicating a 22.51% and 20.74% decrease in their respective holdings.
• M&T Bank announced a quarterly dividend increase to $1.50, up from the previous $1.35, reflecting a 3.0% dividend yield.

Curi RMB Capital LLC raised its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 56.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,042 shares of the financial services provider's stock after buying an additional 37,562 shares during the period. Curi RMB Capital LLC owned approximately 0.06% of M&T Bank worth $18,597,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its holdings in shares of M&T Bank by 53.8% during the first quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock worth $94,000 after buying an additional 184 shares in the last quarter. Private Trust Co. NA raised its holdings in M&T Bank by 16.5% in the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 91 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in shares of M&T Bank in the first quarter valued at approximately $225,000. Kingswood Wealth Advisors LLC raised its position in M&T Bank by 4.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock valued at $370,000 after purchasing an additional 88 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in M&T Bank by 1.8% during the first quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider's stock valued at $21,088,000 after purchasing an additional 2,111 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on MTB shares. Cowen assumed coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of M&T Bank in a report on Monday, May 19th. Wells Fargo & Company raised their price objective on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. DA Davidson lifted their target price on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on shares of M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $213.63.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the sale, the director owned 17,866 shares of the company's stock, valued at $3,569,448.14. The trade was a 45.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at $1,838,731.89. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,438 shares of company stock worth $4,964,196. Company insiders own 0.53% of the company's stock.

M&T Bank Trading Down 0.2%

Shares of MTB traded down $0.32 during midday trading on Monday, hitting $199.25. The stock had a trading volume of 687,458 shares, compared to its average volume of 1,230,896. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The firm has a market cap of $31.14 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. The stock's 50 day moving average is $195.53 and its 200 day moving average is $183.54.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter last year, the firm posted $3.73 EPS. As a group, analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from M&T Bank's previous quarterly dividend of $1.35. M&T Bank's payout ratio is presently 38.86%.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.