M & T Bank Corp’s filing revealed that its Director SALAMONE DENIS J unloaded Company’s shares for reported $1.72 million on Sep 03 ’24. In the deal valued at $172.03 per share,10,000 shares were sold. As a result of this transaction, SALAMONE DENIS J now holds 44,902 shares worth roughly $8.32 million.
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Then, Denis J. Salamone bought 10,000 shares, generating $1,720,250 in total proceeds.
Before that, WALTERS KIRK W sold 10,441 shares. M & T Bank Corp shares valued at $257,162 were divested by the Director at a price of $24.63 per share. As a result of the transaction, WALTERS KIRK W now holds 1,384 shares, worth roughly $0.26 million.
Wolfe Research upgraded its M & T Bank Corp [MTB] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in early October from “an In-line” to “an Outperform”. JP Morgan also remained covering MTB and has increased its forecast on September 03, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. Wells Fargo revised its rating on August 15, 2024. It rated MTB as “an Underweight” which previously was an “an Equal weight”.
Price Performance Review of MTB
On Friday, M & T Bank Corp [NYSE:MTB] saw its stock jump 3.41% to $185.19. Over the last five days, the stock has gained 3.61%. M & T Bank Corp shares have risen nearly 35.10% since the year began. Nevertheless, the stocks have risen 47.32% over the past one year. While a 52-week high of $180.63 was reached on 10/11/24, a 52-week low of $108.53 was recorded on 02/07/24. SMA at 50 days reached $169.68, while 200 days put it at $151.39.
Levels Of Support And Resistance For MTB Stock
The 24-hour chart illustrates a support level at 181.37, which if violated will result in even more drops to 177.54. On the upside, there is a resistance level at 187.50. A further resistance level may holdings at 189.80. The Relative Strength Index (RSI) on the 14-day chart is 68.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.56, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.97%. Stochastics %K at 88.72% indicates the stock is a selling.
How much short interest is there in M & T Bank Corp?
A steep rise in short interest was recorded in M & T Bank Corp stocks on 2024-09-30, growing by 1.17 million shares to a total of 4.37 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 3.21 million shares. There was a rise of 26.68%, which implies that there is a positive sentiment for the stock.
