In a recent transaction, Gary N. Geisel, a director at M&T Bank Corp (NYSE:MTB), sold 703 shares of the company's common stock. The sale was executed at an average price of $140.845 per share, resulting in a total value of $99,014.
The transaction took place on March 14, 2024, and was reported in a Form 4 document filed with the Securities and Exchange Commission. Post-sale, Geisel's direct holdings in M&T Bank Corp common stock amount to 16,459 shares. Additionally, it is noted that Geisel has an indirect ownership of 2,490 shares through an IRA.
M&T Bank Corp, a financial institution with a standard industrial classification as a state commercial bank, continues to be a significant player in the banking sector. The sale by a director like Geisel may be of interest to investors who closely monitor insider transactions as indicators of confidence in the company's current status and future prospects.
Investors and stakeholders in M&T Bank Corp can stay updated on the latest insider transactions by reviewing the Form 4 filings, which provide insights into the trading activities of the company's directors and executive officers.
InvestingPro Insights
As M&T Bank Corp (NYSE:MTB) remains in the spotlight following insider trading activity, investors may find additional context in the company's financial metrics and market performance. According to InvestingPro data, M&T Bank Corp boasts a market capitalization of $23.65 billion, reflecting its substantial presence in the banking sector. The company's Price-to-Earnings (P/E) ratio stands at a competitive 8.96, suggesting that the stock could be undervalued relative to its near-term earnings growth potential—a point echoed by one of the InvestingPro Tips which highlights the company's low P/E ratio in this context.
InvestingPro Tips also reveal that M&T Bank Corp has a demonstrated history of shareholder returns, having raised its dividend for 7 consecutive years and maintained dividend payments for an impressive 46 consecutive years. This consistent dividend history could be a sign of the company's financial stability and commitment to returning value to its shareholders. The current dividend yield is reported at 3.71%, with a recent growth of 8.33% in dividends, underscoring the company's attractiveness to income-focused investors.
Despite concerns over weak gross profit margins and an expected drop in net income this year, analysts predict M&T Bank Corp will remain profitable, as the company has been profitable over the last twelve months. This is critical for investors weighing the potential impact of insider sales against the backdrop of the company's overall financial health.
For those seeking a deeper dive into M&T Bank Corp's financials and future outlook, InvestingPro offers additional tips that can be accessed at InvestingPro's MTB page. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With several more InvestingPro Tips available, investors can gain a comprehensive understanding of the company's position and make more informed decisions.
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