The COB & CEO of M&T Bank (NYSE: MTB) is Buying Shares

Yesterday, the COB & CEO of M&T Bank (MTBResearch Report), Rene Jones, bought shares of MTB for $474.9K.

This recent transaction increases Rene Jones’ holding in the company by 8% to a total of $6.55 million. This is Jones’ first Buy trade following 5 Sell transactions.

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The company has a one-year high of $174.93 and a one-year low of $85.09. Currently, M&T Bank has an average volume of 977.92K. MTB’s market cap is $12.41 billion and the company has a P/E ratio of 7.80.

Based on 12 analyst ratings, the analyst consensus is Hold with an average price target of $120.36, reflecting a -19.0% downside. Three different firms, including Barclays and Deutsche Bank, currently also have a Buy rating on the stock.

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking. The Business Banking segment provides services to small businesses and professionals through the company’s branch network, business banking centres and other delivery channels such as telephone banking, Internet banking and automated teller machines. The Commercial Banking segment offers credit products and banking services for middle-market and large commercial customers. The Commercial Real Estate segment includes credit and deposit services to its customers. The Discretionary Portfolio segment consists of investment and trading securities, residential mortgage loans and other assets, short-term and long-term borrowed funds, brokered certificates of deposit and interest rate swap agreements related thereto, and Cayman Islands branch deposits. The Residential Mortgage Banking segment comprises of residential mortgage loans and sells substantially all of those loans in the secondary market to investors. The Retail Banking segment offers services to consumers through several delivery channels which include branch offices, automated teller machines, telephone banking, and Internet banking. The company was founded on August 30, 1856 and is headquartered in Buffalo, NY.