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 $1,720,250 were sold by SALAMONE DENIS J on Sep 03 ’24. At $172.03 per share, SALAMONE DENIS J sold 10,000 shares. The insider’s holdings dropped to 44,902 shares worth approximately $7.78 million following the completion of this transaction.
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Also, Denis J. Salamone purchased 10,000 shares, netting a total of over 1,720,250 in proceeds.
Before that, WALTERS KIRK W had sold 10,441 shares from its account. In a trade valued at $257,162, the Director traded M & T Bank Corp shares for $24.63 each. Upon closing the transaction, the insider’s holdings decreased to 10,441 shares, worth approximately $0.24 million.
As published in a research note from Evercore ISI on October 02, 2024, M & T Bank Corp [MTB] has been rated up from an In-line to an Outperform and the price target has been revised to $210 from $187. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early September. As of August 15, 2024, Wells Fargo has decreased its “an Equal weight” rating to a “an Underweight” for MTB. Earlier on December 18, 2023, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” 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 0.32%. Over the course of the year, M & T Bank Corp shares have jumped approximately 26.36%. Shares of the company reached a 52-week high of $180.63 on 09/23/24 and a 52-week low of $128.31 on 02/07/24. A 50-day SMA is recorded $168.78, while a 200-day SMA reached $149.96. Nevertheless, trading volume fell to 1.11 million shares from 1.04 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 171.60, which, if violated, would cause prices to drop to 169.98. In the upper region, resistance lies at 175.36. The next price resistance is at 177.50. RSI (Relative Strength Index) is 52.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 53.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
