BUFFALO, NY—Woodrow Tracy S., Senior Executive Vice President at M&T Bank Corp (NYSE:MTB), recently executed a series of stock transactions involving the company's common stock. According to a recent SEC filing, Tracy sold 2,121 shares of M&T Bank stock on November 26, 2024, at an average price of $220.745 per share, amounting to a total of $468,200.
In addition to the sale, Tracy also exercised options to acquire 2,121 shares at a price of $132.47 per share, which was part of an equity incentive compensation plan. Following these transactions, Tracy's direct ownership of M&T Bank shares stands at 5,141 shares.
These transactions are part of routine financial maneuvers by company executives, reflecting their personal financial strategies and confidence in the company's performance. InvestingPro analysis suggests M&T Bank is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US stocks.
In other recent news, M&T Bank has been the center of significant financial developments. The bank reported a 10% increase in Q3 net income, amounting to $721 million, and saw its diluted GAAP earnings per share rise to $4.02. The bank's CET1 ratio improved to 11.54%, and its average loans grew to $134.8 billion.
Piper Sandler, Citi, DA Davidson, and RBC Capital Markets have all recently adjusted their stock price targets for M&T Bank. Piper Sandler increased its price target to $243, while maintaining an Overweight rating. Citi downgraded the stock from Buy to Neutral but increased the price target to $230. DA Davidson maintained a neutral stance, while raising its target to $207. RBC Capital Markets lifted its target to $208 and maintained an outperform rating.
M&T Bank projects 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 are recent developments that investors may find noteworthy.
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