Sienna Gestion Cuts Position in M&T Bank Corporation $MTB

Sienna Gestion reduced its position in M&T Bank Corporation (NYSE:MTB) by 21.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,959 shares of the financial services provider’s stock after selling 13,209 shares during the period. Sienna Gestion’s holdings in M&T Bank were worth $8,641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank of Jackson Hole Trust raised its holdings in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after buying an additional 120 shares during the period. Golden State Wealth Management LLC grew its stake in M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after buying an additional 155 shares during the period. Ameriflex Group Inc. grew its stake in M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of M&T Bank in the second quarter worth $36,000. Finally, Westside Investment Management Inc. increased its position in shares of M&T Bank by 61.8% in the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $210.43 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $239.00. The business has a 50 day moving average price of $219.16 and a two-hundred day moving average price of $202.45. The firm has a market cap of $31.35 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the business posted $3.77 EPS. Sell-side analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 2nd will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, March 2nd. M&T Bank’s dividend payout ratio is 35.19%.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 21,193 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the transaction, the director owned 15,142 shares of the company’s stock, valued at approximately $3,571,240.70. This trade represents a 58.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael A. Wisler sold 8,237 shares of M&T Bank stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the transaction, the executive vice president owned 4,643 shares of the company’s stock, valued at $1,037,617.64. This trade represents a 63.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 49,092 shares of company stock valued at $11,182,250 in the last 90 days. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MTB. Evercore lowered shares of M&T Bank from an “outperform” rating to a “hold” rating and lifted their target price for the company from $210.00 to $225.00 in a report on Tuesday, January 6th. The Goldman Sachs Group increased their price target on M&T Bank from $230.00 to $231.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Barclays boosted their price objective on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Morgan Stanley upped their target price on M&T Bank from $251.00 to $271.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, Cantor Fitzgerald raised their target price on M&T Bank from $238.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average target price of $232.87.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.