Crestwood Advisors Group LLC Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Crestwood Advisors Group LLC lifted its stake in M&T Bank Co. (NYSE:MTB) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,103 shares of the financial services provider’s stock after purchasing an additional 57 shares during the period. Crestwood Advisors Group LLC’s holdings in M&T Bank were worth $553,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MTB. Marshall Wace LLP increased its stake in shares of M&T Bank by 232.1% in the 2nd 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 in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares in the last quarter. Canoe Financial LP increased its stake in shares of M&T Bank by 29.4% in the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock worth $103,200,000 after acquiring an additional 133,748 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of 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 worth $19,623,000 after acquiring an additional 109,550 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Up 12.1 %

MTB opened at $216.56 on Thursday. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average price of $181.20 and a 200-day moving average price of $163.98. M&T Bank Co. has a twelve month low of $115.93 and a twelve month high of $216.84. The stock has a market capitalization of $36.13 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.72 and a beta of 0.74.

M&T Bank Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.49%. M&T Bank’s payout ratio is 39.97%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTB. The Goldman Sachs Group increased their price target on shares of M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. DA Davidson raised their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Citigroup raised their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Wolfe Research upgraded 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 note on Friday, October 4th. Finally, Wedbush raised their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $198.76.

Insider Activity

In related news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the completion of the sale, the insider now directly owns 47,944 shares in the company, valued at approximately $7,780,352.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the completion of the sale, the insider now directly owns 47,944 shares in the company, valued at approximately $7,780,352.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the sale, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,734 shares of company stock valued at $14,055,727 over the last three months. Insiders own 0.82% of the company’s stock.

M&T Bank Company 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.