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 $365,324 were sold by WALTERS KIRK W on Aug 14 ’24. At $24.61 per share, WALTERS KIRK W sold 14,847 shares. The insider’s holdings dropped to 24,744 shares worth approximately $4.0 million following the completion of this transaction.
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Also, WALTERS KIRK W sold 350 shares, netting a total of over 8,610 in proceeds. Following the sale of shares at $24.60 each, the insider now holds 39,591 shares.
Before that, WALTERS KIRK W had sold 20 shares from its account. In a trade valued at $492, the Director traded M & T Bank Corp shares for $24.60 each. Upon closing the transaction, the insider’s holdings decreased to 20 shares, worth approximately $3.99 million.
As published in a research note from Wells Fargo on August 15, 2024, M & T Bank Corp [MTB] has been rated down from an Equal weight to an Underweight and the price target has been revised to $165 from $170. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid December. As of September 29, 2023, Odeon has decreased its “Buy” rating to a “Hold” for MTB. Earlier on April 18, 2023, Argus upgraded its rating. Their new recommendation was “a Buy” for MTB stock which previously was a “a Hold”.
Analyzing MTB Stock Performance
During the last five days, there has been a drop of approximately -0.38%. Over the course of the year, M & T Bank Corp shares have jumped approximately 17.85%. Shares of the company reached a 52-week high of $176.44 on 07/25/24 and a 52-week low of $128.31 on 02/07/24. A 50-day SMA is recorded $156.30, while a 200-day SMA reached $142.55. Nevertheless, trading volume fell to 1.13 million shares from 0.93 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 160.49, which, if violated, would cause prices to drop to 159.43. In the upper region, resistance lies at 162.87. The next price resistance is at 164.19. RSI (Relative Strength Index) is 49.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.15, which suggests the price will decrease in the coming days. Percent R is at 67.88%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
