M & T Bank Corp’s recent filing unveils that its Affiliate M&T Bank Corporation Pension P acquired Company’s shares for reported $3.02 million on Oct 25 ’24. In the deal valued at $195.13 per share,15,500 shares were bought.
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Then, BARNES JOHN P sold 20,000 shares, generating $3,879,412 in total proceeds. Upon selling the shares at $193.97, the Director now owns 49,960 shares.
Before that, John P. Barnes bought 20,000 shares. M & T Bank Corp shares valued at $3,887,200 were divested by the Director at a price of $194.36 per share.
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 fall -0.99% to $192.57. Over the last five days, the stock has lost -2.52%. M & T Bank Corp shares have risen nearly 40.48% since the year began. Nevertheless, the stocks have risen 72.46% over the past one year. While a 52-week high of $200.94 was reached on 10/17/24, a 52-week low of $108.53 was recorded on 02/07/24. SMA at 50 days reached $176.02, while 200 days put it at $154.15.
Levels Of Support And Resistance For MTB Stock
The 24-hour chart illustrates a support level at 190.78, which if violated will result in even more drops to 188.99. On the upside, there is a resistance level at 195.38. A further resistance level may holdings at 198.19. The Relative Strength Index (RSI) on the 14-day chart is 64.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.58, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 34.95%. Stochastics %K at 69.97% indicates the stock is a holding.
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 2024-10-15, growing by 0.78 million shares to a total of 4.38 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.6 million shares. There was a rise of 17.85%, which implies that there is a positive sentiment for the stock.
