DekaBank Deutsche Girozentrale Purchases 361 Shares of M&T Bank Co. (NYSE:MTB)

DekaBank Deutsche Girozentrale boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,240 shares of the financial services provider’s stock after purchasing an additional 361 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in M&T Bank were worth $5,272,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board raised its stake in M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after buying an additional 3,739 shares during the period. Leuthold Group LLC acquired a new position in shares of M&T Bank in the 1st quarter valued at approximately $3,125,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in M&T Bank by 7.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after purchasing an additional 35,692 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after buying an additional 18,566 shares during the period. Finally, Gateway Investment Advisers LLC raised its holdings in M&T Bank by 60.0% during the 2nd quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after buying an additional 12,304 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

NYSE:MTB opened at $194.68 on Friday. The firm’s fifty day moving average price is $178.82 and its two-hundred day moving average price is $162.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The company has a market cap of $32.48 billion, a P/E ratio of 13.16, a P/E/G ratio of 2.75 and a beta of 0.75. M&T Bank Co. has a one year low of $111.08 and a one year high of $200.94.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given 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 yield of 2.77%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Transactions at M&T Bank

In related news, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the sale, the executive vice president now directly owns 5,618 shares of the company’s stock, valued at approximately $1,095,678.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other M&T Bank news, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the 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 transaction, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,234 shares of company stock worth $12,190,627 over the last quarter. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of a number of research reports. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Friday, October 4th. Royal Bank of Canada increased their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Barclays increased their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average target price of $198.76.

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.