Burns J W & Co. Inc. NY Reduces Stock Holdings in M&T Bank Co. (NYSE:MTB)

Burns J W & Co. Inc. NY cut its holdings in M&T Bank Co. (NYSE:MTB) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,364 shares of the financial services provider’s stock after selling 75 shares during the period. Burns J W & Co. Inc. NY’s holdings in M&T Bank were worth $1,008,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd raised its holdings in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank during the 3rd quarter worth about $32,000. Hexagon Capital Partners LLC grew its holdings in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank during the third quarter valued at approximately $44,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Up 1.9 %

MTB traded up $3.60 during trading on Monday, hitting $191.35. The company had a trading volume of 1,366,170 shares, compared to its average volume of 1,166,710. The company has a market cap of $31.75 billion, a PE ratio of 14.16, a P/E/G ratio of 2.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The business has a 50-day moving average of $203.16 and a 200-day moving average of $182.33.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, analysts forecast that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.82%. M&T Bank’s payout ratio is 39.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler lifted their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Barclays lifted their price objective on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $216.86.

Insider Buying and Selling at M&T Bank

In other news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 over the last 90 days. Insiders own 0.82% of the company’s stock.

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.