Gold prices bounce off 3-week lows; demand likely longer term
BUFFALO, NY—Christopher E. Kay, the Senior Executive Vice President of M&T Bank Corp (NYSE:MTB), has sold a significant amount of the company’s common stock, according to a recent SEC filing. On March 12, Kay disposed of 1,738 shares at a weighted average price of $172.34 per share, generating a total of $299,527.
The transaction was executed through multiple trades, with prices ranging from $172.232 to $172.37. Following this sale, Kay retains ownership of 10,751 shares of M&T Bank common stock.
In other recent news, M&T Bank reported its fourth-quarter 2024 earnings, exceeding analyst expectations with an earnings per share (EPS) of $3.92, surpassing the forecasted $3.72. The bank also reported revenue of $2.38 billion, which was higher than the anticipated $2.34 billion. Despite these positive results, Keefe, Bruyette & Woods maintained a Market Perform rating for M&T Bank, highlighting concerns over a projected decline in net interest income due to a reduction in the bank’s balance sheet size. On a more optimistic note, Truist Securities increased its price target for M&T Bank to $236 and maintained a Buy rating, citing expected growth in net interest income and share buybacks as key drivers. Meanwhile, DA Davidson raised its price target slightly to $223, maintaining a Neutral stance, and acknowledged improvements in M&T Bank’s credit metrics and capital ratios. The bank is expected to increase its share buyback program significantly, which could enhance shareholder value. These developments reflect ongoing strategic efforts by M&T Bank to navigate economic challenges while maintaining financial stability.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.