Infrastructure Capital Advisors LLC Takes Position in M&T Bank Co. (NYSE:MTB)

Infrastructure Capital Advisors LLC purchased a new stake in M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,549 shares of the financial services provider’s stock, valued at approximately $1,879,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Northwest & Ethical Investments L.P. boosted its holdings in shares of M&T Bank by 264.0% in the third quarter. Northwest & Ethical Investments L.P. now owns 53,473 shares of the financial services provider’s stock valued at $9,525,000 after buying an additional 38,784 shares during the period. Vinva Investment Management Ltd boosted its holdings in M&T Bank by 80.9% during the third quarter. Vinva Investment Management Ltd now owns 10,021 shares of the financial services provider’s stock worth $1,758,000 after purchasing an additional 4,483 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in M&T Bank by 2.8% during the third quarter. Public Sector Pension Investment Board now owns 29,095 shares of the financial services provider’s stock worth $5,182,000 after purchasing an additional 800 shares during the last quarter. Fiduciary Trust Co boosted its holdings in M&T Bank by 20.9% during the third quarter. Fiduciary Trust Co now owns 3,207 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 554 shares during the last quarter. Finally, National Wealth Management Group LLC acquired a new position in M&T Bank during the third quarter worth $529,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MTB shares. Royal Bank of Canada increased their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Piper Sandler increased their target price on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays increased 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 report on Friday, October 18th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Bank of America increased their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $206.41.

M&T Bank Price Performance

Shares of MTB opened at $220.80 on Friday. The firm has a market capitalization of $36.64 billion, a PE ratio of 16.34, a PEG ratio of 3.11 and a beta of 0.74. The company’s 50-day moving average is $195.64 and its 200-day moving average is $171.40. M&T Bank Co. has a fifty-two week low of $123.46 and a fifty-two week high of $225.70. 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 (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. Equities analysts forecast that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the sale, the director now directly owns 35,480 shares in the company, valued at $7,715,126. This represents a 36.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,383 shares of company stock worth $17,925,801. Corporate 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.