Burney Co. Buys 1,580 Shares of M&T Bank Co. (NYSE:MTB)

Burney Co. boosted its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,824 shares of the financial services provider's stock after buying an additional 1,580 shares during the quarter. Burney Co.'s holdings in M&T Bank were worth $719,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. American Century Companies Inc. increased its position in M&T Bank by 7.0% during the second quarter. American Century Companies Inc. now owns 61,818 shares of the financial services provider's stock worth $9,357,000 after acquiring an additional 4,067 shares during the period. Envestnet Asset Management Inc. raised its position in shares of M&T Bank by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 241,213 shares of the financial services provider's stock valued at $36,510,000 after buying an additional 13,278 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in shares of M&T Bank by 6.7% in the second quarter. Citizens Financial Group Inc. RI now owns 1,474 shares of the financial services provider's stock valued at $223,000 after buying an additional 92 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of M&T Bank by 1.5% in the second quarter. Mutual of America Capital Management LLC now owns 38,303 shares of the financial services provider's stock valued at $5,798,000 after buying an additional 551 shares during the period. Finally, Argent Trust Co increased its stake in M&T Bank by 9.3% during the 2nd quarter. Argent Trust Co now owns 1,506 shares of the financial services provider's stock worth $228,000 after acquiring an additional 128 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Trading Up 0.4 %

Shares of MTB traded up $0.78 during mid-day trading on Friday, reaching $196.88. 2,029,408 shares of the company were exchanged, compared to its average volume of 1,013,933. The business has a 50 day simple moving average of $202.41 and a two-hundred day simple moving average of $183.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $32.67 billion, a PE ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the previous year, the company earned $2.74 EPS. On average, analysts predict that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.74%. M&T Bank's dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MTB shares. Compass Point upped their target price on M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Piper Sandler raised their target price on shares of M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. Citigroup downgraded shares of M&T Bank from a "buy" rating to a "neutral" rating and upped their price target for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Finally, StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, M&T Bank has an average rating of "Hold" and an average price target of $221.68.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the sale, the insider now directly owns 40,502 shares in the company, valued at $7,933,531.76. This trade represents a 15.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is 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.