The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. M & T Bank Corp shares valued at $5,260,072 were purchased by M&T Bank Corporation Pension P on Nov 06 ’24. At $210.40 per share, M&T Bank Corporation Pension P acquired 25,000 shares.
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Also, Kirk W. Walters purchased 16,635 shares, netting a total of over 3,459,140 in proceeds.
Before that, PEARSON KEVIN J had sold 7,500 shares from its account. In a trade valued at $1,469,109, the Vice Chairman traded M & T Bank Corp shares for $195.88 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $8.77 million.
As published in a research note from Wolfe Research on October 04, 2024, M & T Bank Corp [MTB] has been rated up from a Peer perform to an Outperform and the price target has been revised to $210. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in early October. As of September 03, 2024, JP Morgan has increased its “Neutral” rating to a “an Overweight” for MTB. Earlier on August 15, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Underweight” for MTB stock which previously was a “an Equal weight”.
Analyzing MTB Stock Performance
During the last five days, there has been a surge of approximately 9.62%. Over the course of the year, M & T Bank Corp shares have jumped approximately 57.98%. Shares of the company reached a 52-week high of $216.84 on 11/06/24 and a 52-week low of $128.31 on 02/07/24. A 50-day SMA is recorded $181.16, while a 200-day SMA reached $156.61. Nevertheless, trading volume fell to 3.04 million shares from 1.21 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 209.27, which, if violated, would cause prices to drop to 201.99. In the upper region, resistance lies at 220.34. The next price resistance is at 224.13. RSI (Relative Strength Index) is 76.80 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.12, which suggests the price will increase in the coming days. Percent R is at 1.01%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
