Sienna Gestion Purchases 6,082 Shares of M&T Bank Corporation $MTB

Sienna Gestion boosted its position in shares of M&T Bank Corporation (NYSE:MTB) by 11.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,168 shares of the financial services provider’s stock after buying an additional 6,082 shares during the quarter. Sienna Gestion’s holdings in M&T Bank were worth $10,833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in M&T Bank by 33.1% during the 1st quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider’s stock valued at $1,768,564,000 after buying an additional 2,460,315 shares during the last quarter. Invesco Ltd. grew its position in shares of M&T Bank by 15.2% in the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock worth $635,039,000 after buying an additional 468,758 shares during the period. Northern Trust Corp grew its position in shares of M&T Bank by 2.3% in the 1st quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider’s stock worth $307,702,000 after buying an additional 38,081 shares during the period. Dimensional Fund Advisors LP grew its position in shares of M&T Bank by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider’s stock worth $287,932,000 after buying an additional 12,580 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of M&T Bank in the 1st quarter worth about $243,451,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Price Performance

MTB opened at $183.28 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $28.17 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.87 and a beta of 0.66. The company’s 50-day simple moving average is $191.82 and its two-hundred day simple moving average is $188.53. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The business had revenue of $1.54 billion for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. As a group, analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $1.50 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $6.00 annualized dividend and a yield of 3.3%. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. M&T Bank’s dividend payout ratio (DPR) is currently 36.95%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of M&T Bank from $235.00 to $245.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings downgraded shares of M&T Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Cowen reissued a “buy” rating on shares of M&T Bank in a research report on Monday, October 20th. Finally, Cantor Fitzgerald began coverage on shares of M&T Bank in a research report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, M&T Bank has an average rating of “Moderate Buy” and a consensus price target of $217.76.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the transaction, the director owned 17,866 shares in the company, valued at approximately $3,569,448.14. This represents a 45.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.