BUFFALO, NY—Michael A. Wisler, Senior Executive Vice President of M&T Bank Corp (NYSE:MTB), recently executed a significant stock transaction. On November 14, Wisler sold 11,249.713 shares of common stock at an average price of $213.04 per share, amounting to a total of approximately $2.4 million. Following this sale, Wisler retains ownership of 2,733.376 shares in the company.
In conjunction with the sale, Wisler also exercised options to acquire a total of 8,442 shares of common stock. The exercise prices for these options ranged from $132.47 to $173.04, with the total value of these acquisitions estimated at approximately $1.34 million. These transactions reflect Wisler's ongoing management of his holdings in M&T Bank, a leading financial institution headquartered in Buffalo, New York.
"In other recent news, M&T Bank has demonstrated a strong financial performance, with a 10% increase in Q3 net income, reaching $721 million. The bank's diluted GAAP earnings per share rose to $4.02, and the capital ratios improved, with the CET1 ratio reaching 11.54%. In addition, M&T Bank's average loans grew to $134.8 billion.
DA Davidson has adjusted its stock price target for M&T Bank, increasing it to $207 from the previous $192, maintaining a Neutral stance. The firm cited the bank's solid performance and conservative outlook. Similarly, RBC Capital Markets raised the price target from $190 to $208, maintaining an Outperform rating, highlighting the bank's robust business model and prudent credit management.
Looking ahead, M&T Bank's projections include a fourth-quarter taxable equivalent net interest income of at least $1.73 billion, loan growth reaching approximately $136 billion, and total deposits expected to reach at least $160 billion. These recent developments provide essential insights for investors monitoring the bank's performance."
InvestingPro Insights
The recent stock transaction by Michael A. Wisler, Senior Executive Vice President of M&T Bank Corp (NYSE:MTB), aligns with several key insights from InvestingPro data. M&T Bank's stock has shown remarkable performance, with a 75.73% price total return over the past year and a strong 32.71% return in the last three months. This upward trend is reflected in the stock trading near its 52-week high, with the current price at 99.07% of that peak.
InvestingPro Tips highlight that M&T Bank has maintained dividend payments for an impressive 46 consecutive years, demonstrating a commitment to shareholder returns. The company's current dividend yield stands at 2.51%, with a 3.85% dividend growth rate in the last twelve months. This consistent dividend policy may be attractive to investors seeking stable income streams.
The bank's financial health appears robust, with a market capitalization of $35.61 billion and a price-to-earnings ratio of 15.81, suggesting a reasonable valuation relative to earnings. M&T Bank's revenue for the last twelve months was $8.499 billion, with an operating income margin of 40.7%, indicating strong profitability.
For investors interested in a deeper analysis, InvestingPro offers additional insights, with 10 more tips available for M&T Bank. These extra tips could provide valuable context for understanding the company's financial position and future prospects, especially in light of the recent insider transaction.
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