M&T Bank Co. (NYSE:MTB) Position Increased by Tompkins Financial Corp

Tompkins Financial Corp grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 8.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,586 shares of the financial services provider’s stock after purchasing an additional 125 shares during the quarter. Tompkins Financial Corp’s holdings in M&T Bank were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its position in M&T Bank by 54.4% in the 3rd 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. bought a new stake in shares of M&T Bank in the 2nd quarter worth approximately $35,000. Capital Performance Advisors LLP bought a new stake in M&T Bank during the third quarter worth approximately $44,000. nVerses Capital LLC acquired a new position in M&T Bank in the third quarter worth approximately $53,000. Finally, Versant Capital Management Inc grew its holdings in shares of M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 201 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MTB. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Friday, October 4th. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. DA Davidson lifted their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, Barclays increased their price objective on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $198.76.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the 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 in the company, valued at $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,438 shares of company stock worth $12,622,007 over the last 90 days. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 0.6 %

Shares of M&T Bank stock traded up $1.30 during midday trading on Friday, reaching $209.41. 939,939 shares of the company’s stock traded hands, compared to its average volume of 1,326,758. M&T Bank Co. has a 52 week low of $115.93 and a 52 week high of $216.84. The company’s 50 day simple moving average is $182.71 and its 200 day simple moving average is $164.73. The company has a market cap of $34.75 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 3.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.99.

M&T Bank Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.58%. M&T Bank’s payout ratio is currently 39.97%.

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.