Kevin J. Pearson, serving as Vice Chairman of M&T Bank Corp (NASDAQ:MTB), completed a sale of 2,000 shares of the company's common stock on July 15, 2026. The transaction was reported through a filing with the Securities and Exchange Commission. The sale was executed automatically under a Rule 10b5-1 trading plan that Pearson established on March 5, 2026. The total value of the transaction was $484,000.
The shares were sold at a price of $242.00 per share. Following this sale, Mr. Pearson directly holds 44,107 shares of M&T Bank common stock. Additionally, as of June 30, 2026, Mr. Pearson indirectly holds 3,541 shares of common stock through a 401(k) Plan. He also holds 3,807 phantom common stock units in a Supplemental 401(k) Plan, which represent a like number of M&T Bank common stock shares and are payable in cash in accordance with the plan’s terms. These phantom units also include those acquired through the plan’s dividend reinvestment feature.
In other recent news, M&T Bank reported a record second-quarter profit, surpassing Wall Street expectations. The bank’s diluted operating earnings per share increased to $5.35, up from $4.18 in the first quarter, while revenue rose to $2.53 billion. Analysts had predicted earnings per share of $4.66 and revenue of $2.46 billion, highlighting the bank’s strong performance. Notably, M&T Bank achieved its highest quarterly diluted earnings per share in history, with revenue and earnings both exceeding forecasts. Average loans grew by $3 billion, marking the strongest quarterly loan growth since 2012, excluding acquisitions and pandemic-related items. Additionally, the bank maintained a steady net interest margin of 3.70% and saw improvements in credit quality. In light of this performance, DA Davidson raised its price target for M&T Bank to $266 from $263, maintaining a Neutral rating. The firm’s decision was influenced by the bank’s solid rebound in earnings, which exceeded both DA Davidson’s and consensus estimates.