We recently published a list of 15 Stocks With The Most Insider Sales In The Last Quarter. In this article, we are going to take a look at where M&T Bank Corporation (NYSE:MTB) stands against other stocks with the most insider sales in the last quarter.
A veil of uncertainty has hung over Wall Street these past few weeks, and the cover seems even tighter as investors and economists hold their breath ahead of the Fed’s big announcement on Wednesday.
The Fed will reveal its interest rate decision, which will be followed by a press conference with Fed Chair Jerome Powell. Since September, the Fed has cut interest rates three times, and still, the broader market entered a correction. Many experts believe that interest rate cuts are off the table for this month and are focusing on the Fed officials’ ‘dot plot’ and future rate decisions, according to Yahoo Finance.
Amid these expectations, blue-chip companies dropped 0.62%, the broader market index declined 1.07%, and the NASDAQ Composite fell 1.71%, remaining in correction territory. NASDAQ Composite was dragged by some of the biggest gems in the tech sector.
Evercore ISI’s Julian Emanuel said that Powell should calm the market by assuring investors the economic growth is still healthy and that inflation is expected to move toward the Fed’s 2% target.
Scott Helfstein, Global X’s head of investment strategy noted that even though there are some risks to price stability and full employment “this is not time to sell and go away, but perhaps time to review long-term strategy against near-term volatility.”
As political and economic landscapes shift, some analysts remain optimistic about AI technology’s growth potential. Insider trading often draws attention during such times, as company executives have unique insights into their organizations. For example, when a CEO or CFO buys company stock, it may signal confidence in the company’s future.
However, insider selling doesn’t necessarily reflect a lack of faith in the company. It could be driven by personal financial needs or a desire to diversify assets. Executives often use pre-established plans, like 10b5-1 plans, to ensure transparency and avoid accusations of improper timing.
While insider trading can offer valuable clues, it’s crucial to consider it alongside factors like financial performance, market trends, and industry developments.
Our Methodology
We’ll focus on the stocks with the highest number of insider sales in the past quarter. Using Insider Monkey’s insider trading screener, we’ve identified stocks where at least five insiders made sales between October 1 and December 31. From this group, we’ve highlighted the 15 stocks with the most individual sales.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
For each stock, we provide details on the number of insider sales and the company’s current market capitalization.
A busy financial advisor talking to a client in their office.
M&T Bank Corporation (NYSE:MTB)
Number of Insiders Selling: 12
Market Capitalization: $28.72 billion
M&T Bank Corporation (NYSE:MTB) operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association. The Buffalo, New York-headquartered company offers retail and commercial banking services across the United States through its three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management. It provides a range of services, including commercial lending, real estate loans, credit products, cash management, and deposit accounts for middle-market and large commercial customers.
In addition to banking services, M&T Bank (NYSE:MTB) offers consumer products such as auto and home equity loans, credit cards, residential mortgages, and business cash management services through its branch network, online banking, and ATMs.
In February, the company declared a quarterly cash dividend of $1.35 per share on its common stock.
In January, M&T Bank (NYSE:MTB) reported fourth-quarter net income of $681 million, or $3.86 per diluted share, and full-year net income of $2.59 billion, or $14.64 per diluted share.
In the last quarter, 12 insiders sold a total of $25.92 million worth of M&T Bank shares at an average price of $207.78 per share. Year-to-date, the stock is down 6.51% trading at $175.55. However, over the last 12 months, M&T Bank returned 25.90% to its investors.
You can read here what lifted M&T Bank in 2024.
According to 13 analysts, M&T Bank is a “Moderate Buy” with a price target of $222.45. The average price target suggests a 26.56% upside from the last price, writes TipRanks.
Overall, MTB ranks 11th on our list of stocks with the most insider sales in the last quarter. While we acknowledge the potential of MTB, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MTB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires
Disclosure: None. This article is originally published at Insider Monkey.
