Crestwood Advisors Group LLC Purchases 57 Shares of M&T Bank Co. (NYSE:MTB)

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

A number of other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after purchasing an additional 81,004 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after purchasing an additional 93,113 shares during the period. Bank of New York Mellon Corp boosted its position in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after purchasing an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of M&T Bank by 3.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after purchasing an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Trading Up 12.1 %

Shares of MTB opened at $216.56 on Thursday. M&T Bank Co. has a twelve month low of $115.93 and a twelve month high of $216.84. The company has a market cap of $36.13 billion, a P/E ratio of 16.03, a P/E/G ratio of 2.72 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $181.20 and its 200-day simple moving average is $163.98.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 39.97%.

Wall Street Analyst Weigh In

MTB has been the topic of several research analyst reports. DA Davidson boosted their target price 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. The Goldman Sachs Group boosted their target price on shares of M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted 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 report on Friday, July 19th. Morgan Stanley boosted their target price on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America boosted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $198.76.

Insider Activity

In other news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the sale, the insider now owns 47,944 shares of the company’s stock, valued at approximately $7,780,352.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP John R. Taylor sold 1,436 shares of the company’s 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 transaction, the executive vice president now directly owns 5,618 shares in the company, valued at approximately $1,095,678.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 6,095 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.28, for a total transaction of $989,096.60. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,734 shares of company stock valued at $14,055,727. 0.82% of the stock is currently owned by company insiders.

About M&T Bank

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.