Infrastructure Capital Advisors LLC Invests $1.88 Million in M&T Bank Co. (NYSE:MTB)

Infrastructure Capital Advisors LLC bought a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,549 shares of the financial services provider's stock, valued at approximately $1,879,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTB. Plato Investment Management Ltd grew its holdings in M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank during the 3rd quarter worth $32,000. Hexagon Capital Partners LLC increased its holdings in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 68 shares during the last quarter. Oakworth Capital Inc. bought a new stake in M&T Bank in the 2nd quarter valued at about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

NYSE:MTB traded down $0.81 during midday trading on Friday, hitting $219.99. The company had a trading volume of 542,439 shares, compared to its average volume of 1,037,194. The company has a market capitalization of $36.50 billion, a PE ratio of 16.28, a P/E/G ratio of 3.11 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52-week low of $125.61 and a 52-week high of $225.70. The stock's fifty day moving average price is $196.45 and its 200-day moving average price is $171.86.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, research analysts expect that M&T Bank Co. will post 14.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank's payout ratio is currently 39.97%.

Insiders Place Their Bets

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares of the company's stock, valued at $7,724,491.06. The trade was a 18.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares of the company's stock, valued at $1,134,875.75. The trade was a 29.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,504 shares of company stock valued at $18,394,012. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Evercore ISI boosted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. DA Davidson raised their price target on M&T Bank from $192.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded M&T Bank from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group raised their target price on M&T Bank from $216.00 to $243.00 and gave the stock a "neutral" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $206.41.

M&T Bank Company Profile

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.