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 $2,234,052 were sold by SALAMONE DENIS J on Nov 25 ’24. At $223.41 per share, SALAMONE DENIS J sold 10,000 shares. The insider’s holdings dropped to 34,902 shares worth approximately $7.71 million following the completion of this transaction.
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Also, Woodrow Tracy S. purchased 2,121 shares, netting a total of over 468,200 in proceeds.
Before that, BARNES JOHN P had sold 20,000 shares from its account. In a trade valued at $4,349,025, the Director traded M & T Bank Corp shares for $217.45 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $0.0.
As published in a research note from Citigroup on November 25, 2024, M & T Bank Corp [MTB] has been rated down from a Buy to a Neutral and the price target has been revised to $230 from $220. Analysts at Wolfe Research upgraded the stock from ‘”a Peer perform”‘ to ‘”an Outperform”‘ outlook in a report released in early October. As of October 02, 2024, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for MTB. Earlier on September 03, 2024, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for MTB stock which previously was a “a Neutral”.
Analyzing MTB Stock Performance
During the last five days, there has been a surge of approximately 3.41%. Over the course of the year, M & T Bank Corp shares have jumped approximately 61.07%. Shares of the company reached a 52-week high of $225.70 on 11/25/24 and a 52-week low of $128.31 on 02/07/24. A 50-day SMA is recorded $194.83, while a 200-day SMA reached $162.52. Nevertheless, trading volume fell to 0.58 million shares from 0.78 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 219.56, which, if violated, would cause prices to drop to 218.32. In the upper region, resistance lies at 223.13. The next price resistance is at 225.47. RSI (Relative Strength Index) is 70.30 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.42, which suggests the price will increase in the coming days. Percent R is at 26.76%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
