Insider Trading Report: M&T Bank Corp (MTB)

Daryle Bible, CFO at M&T Bank Corp (MTP), recently bought 10,000 shares. This marks an initial stake for the CFO. The buy came to a total cost just over $1.2 million.

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  • This is the largest insider activity since last year, when a company director exercised their stock options and sold over 22,700 shares. Insiders have mostly been sellers over the past two years, except for this buy and a small director buy in February.

    Overall, company insiders own about 0.6 percent of shares.

    The regional bank has dropped about 30 percent in the past year. Shares hit a 52-week low in March during the banking crisis. M&T shares have been making a slight uptrend in recent weeks as fears in the banking sector have eased.

    The bank trades for about 10 times earnings, and trades at about a 15 percent discount to its book value, reflecting the fact that it’s a larger player in the banking industry.

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  • Action to take: Investors may like shares here, given the potential uptrend. And at current prices, M&T yields about 4.3 percent. The bank has a history of raising its dividend payout over time.

    For traders, the October $135 calls, last going for about $7.40, can potentially deliver mid-double-digit returns in the coming months on a further uptrend for M&T shares.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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