The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. M & T Bank Corp shares valued at $226,388 were sold by Meister Doris P. on Apr 17 ’24. At $138.21 per share, Meister Doris P. sold 1,638 shares. The insider’s holdings dropped to 3,362 shares worth approximately $0.5 million following the completion of this transaction.
Also, GEISEL GARY N sold 703 shares, netting a total of over 99,014 in proceeds. Following the sale of shares at $140.84 each, the insider now holds 16,459 shares.
Before that, WALTERS KIRK W had sold 28,845 shares from its account. In a trade valued at $4,182,525, the Director traded M & T Bank Corp shares for $145.00 each. Upon closing the transaction, the insider’s holdings decreased to 28,845 shares, worth approximately $0.94 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 surge of approximately 6.42%. Over the course of the year, M & T Bank Corp shares have jumped approximately 7.94%. Shares of the company reached a 52-week high of $148.07 on 04/24/24 and a 52-week low of $128.31 on 02/07/24. A 50-day SMA is recorded $140.36, while a 200-day SMA reached $132.37. Nevertheless, trading volume fell to 0.76 million shares from 0.73 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 145.97, which, if violated, would cause prices to drop to 143.98. In the upper region, resistance lies at 149.01. The next price resistance is at 150.06. RSI (Relative Strength Index) is 63.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.46, which suggests the price will increase in the coming days. Percent R is at 0.73%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
