Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. M & T Bank Corp shares valued at $99,014 were sold by GEISEL GARY N on Mar 14 ’24. At $140.84 per share, GEISEL GARY N sold 703 shares. The insider’s holdings dropped to 16,459 shares worth approximately $2.22 million following the completion of this transaction.
Also, WALTERS KIRK W sold 28,845 shares, netting a total of over 4,182,525 in proceeds. Following the sale of shares at $145.00 each, the insider now holds 6,367 shares.
Before that, Meister Doris P. had sold 3,961 shares from its account. In a trade valued at $568,819, the Sr. Executive Vice President traded M & T Bank Corp shares for $143.60 each. Upon closing the transaction, the insider’s holdings decreased to 3,961 shares, worth approximately $0.67 million.
As published in a research note from Deutsche Bank on December 18, 2023, M & T Bank Corp [MTB] has been rated down from a Buy to a Hold and the price target has been revised to $145. Analysts at Odeon downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late September. As of April 18, 2023, Argus has increased its “Hold” rating to a “Buy” for MTB. Earlier on April 10, 2023, UBS downgraded its rating. Their new recommendation was “a Neutral” for MTB stock which previously was a “a Buy”.
Analyzing MTB Stock Performance
During the last five days, there has been a drop of approximately -3.01%. Over the course of the year, M & T Bank Corp shares have dropped approximately -1.62%. Shares of the company reached a 52-week high of $147.01 on 03/22/24 and a 52-week low of $128.31 on 02/07/24. A 50-day SMA is recorded $139.04, while a 200-day SMA reached $131.55. Nevertheless, trading volume fell to 1.18 million shares from 0.75 million shares the previous day.
Support And Resistance Levels for M & T Bank Corp (MTB)
According to the 24-hour chart, there is a support level at 133.18, which, if violated, would cause prices to drop to 131.49. In the upper region, resistance lies at 137.19. The next price resistance is at 139.51. RSI (Relative Strength Index) is 38.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.53, which suggests the price will decrease in the coming days. Percent R is at 92.12%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is M & T Bank Corp subject to short interest?
Stocks of M & T Bank Corp saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.39 million shares to 3.57 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.18 million shares. A jump of 10.92% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.01 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.01.
