Insider Buying: Sr. EVP & CFO Daryl Bible Acquires 5,000 Shares of M&T Bank Corp
On October 25, 2023, Daryl Bible, the Senior Executive Vice President and Chief Financial Officer of M&T Bank Corp (NYSE:MTB), purchased 5,000 shares of the company. This move is significant as insider buying often indicates a strong belief in the company's future prospects.
M&T Bank Corp is a prominent financial institution providing banking services to individuals, businesses, and government entities. The company operates in several segments, including Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking. M&T Bank Corp is headquartered in Buffalo, New York, and has branches across the United States.
Insider buying refers to when a company's executives, directors, or other insiders purchase shares of their own company's stock. This is often seen as a positive sign as these individuals have the most intimate knowledge of the company's operations and future prospects. Conversely, insider selling refers to insiders selling their own company's stock, which can sometimes be interpreted as a lack of confidence in the company's future performance.
Over the past year, the insider has purchased a total of 15,000 shares and has not sold any shares. This recent purchase of 5,000 shares further strengthens the insider's position in the company.
The insider transaction history for M&T Bank Corp shows a balanced activity with 3 insider buys and 3 insider sells over the past year. This recent purchase by the insider adds to the positive side of this balance.
On the day of the insider's recent buy, shares of M&T Bank Corp were trading for $111.04, giving the company a market cap of $18.08 billion. The stock's price-earnings ratio stands at 6.29, which is lower than both the industry median of 8.09 and the companys historical median price-earnings ratio. This suggests that the stock is currently undervalued.
The GuruFocus Value of M&T Bank Corp is $185.15, resulting in a price-to-GF-Value ratio of 0.6. This indicates that the stock is significantly undervalued. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
In conclusion, the recent insider buying activity by Daryl Bible, coupled with the stock's undervalued status, could signal a promising future for M&T Bank Corp. However, as always, potential investors should conduct their own thorough research before making any investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
