Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. M & T Bank Corp shares valued at $7,747,649 were sold by BARNES JOHN P on May 06 ’24. At $148.46 per share, BARNES JOHN P sold 52,187 shares. The insider’s holdings dropped to 35,480 shares worth approximately $5.37 million following the completion of this transaction.
Also, WALTERS KIRK W sold 16,179 shares, netting a total of over 2,394,730 in proceeds. Following the sale of shares at $148.01 each, the insider now holds 6,348 shares.
Before that, BARNES JOHN P had sold 13,360 shares from its account. In a trade valued at $1,963,945, the Director traded M & T Bank Corp shares for $147.00 each. Upon closing the transaction, the insider’s holdings decreased to 13,360 shares, worth approximately $5.37 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 3.51%. Over the course of the year, M & T Bank Corp shares have jumped approximately 10.34%. Shares of the company reached a 52-week high of $151.33 on 05/08/24 and a 52-week low of $128.31 on 02/07/24. A 50-day SMA is recorded $142.38, while a 200-day SMA reached $132.99. Nevertheless, trading volume fell to 1.05 million shares from 0.84 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 148.40, which, if violated, would cause prices to drop to 145.55. In the upper region, resistance lies at 152.72. The next price resistance is at 154.19. RSI (Relative Strength Index) is 65.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.83, which suggests the price will increase in the coming days. Percent R is at 0.59%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
