In a recent transaction, Doris P. Meister, Sr. Executive Vice President at M&T Bank Corp (NYSE:MTB), sold shares of the company's common stock, according to a Form 4 filing with the Securities and Exchange Commission. The sale, which took place on April 17, 2024, involved 1,638 shares at a price of $138.21 per share, resulting in a total value of $226,387.
On the following day, April 18, records show an indirect transaction involving 1,186.5353 shares at a price of $138.8366 per share, which includes 11.5353 shares acquired under the M&T Bank Corporation's 401(k) plan since the last ownership report. This transaction was marked as a disposition and reduced Meister's indirect holdings to zero. The total value of this transaction was $164,734.
Additionally, on April 17, an intra-plan transfer was executed involving phantom common stock units equivalent to 919.8521 shares of M&T Bank Corporation common stock at a price of $139.1524 each. This derivative transaction, which took place within the company's supplemental 401(k) plan, included 8.852137 units acquired through dividend reinvestment.
Investors and the market often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value. The transactions by Meister reflect a significant sale of M&T Bank Corp stock, although the reasons behind the sale are not disclosed in the filing. Following the sale, Meister's direct holdings in the company amount to 3,362 shares of common stock.
InvestingPro Insights
As M&T Bank Corp (NYSE:MTB) sees insider transactions, investors considering the bank's stock may find value in the latest metrics and insights from InvestingPro. With a market capitalization of $23.81 billion and an attractive P/E ratio of 9.64, MTB appears to be trading at a discount relative to its near-term earnings growth. This is supported by a PEG ratio of 0.63, suggesting that the stock could be undervalued based on its earnings growth potential.
The bank's dividend yield stands at a compelling 3.73%, which is particularly noteworthy given that M&T Bank has raised its dividend for seven consecutive years and has maintained dividend payments for an impressive 46 years. This could signal a strong commitment to returning value to shareholders. Additionally, an InvestingPro Tip highlights that six analysts have revised their earnings expectations upwards for the upcoming period, indicating potential confidence in the bank's financial performance.
While MTB's revenue growth shows a slight increase of 3.07% over the last twelve months as of Q1 2024, it is important to note that analysts predict the company will be profitable this year, which could be an encouraging sign for investors. Those looking for more comprehensive analysis and additional InvestingPro Tips can find them at Investing.com's InvestingPro platform. There are 7 additional InvestingPro Tips available, which could provide deeper insights into MTB's financial health and stock performance. To access these tips and more detailed analytics, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.