M & T Bank Corp (NYSE:MTB) saw a downside of -1.58% to close Friday at $124.27 after subtracting -$2.0 on the day. The 5-day average trading volume is 809,060 shares of the company’s common stock. It has gained $129.65 in the past week and touched a new high 1 time within the past 5 days. An average of 963,920 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 942,304.
MTB’s 1-month performance is -1.79% or -$1.43 on its low of $117.82 reached on 09/08/23. The company’s shares have touched a 52-week low of $109.36 and high of $192.56, with the stock’s rally to the 52-week high happening on 02/14/23. YTD, MTB has lost -14.33% or -$20.79 and has reached a new high 13 times. However, the current price is down -35.46% from the 52-week high price.
Insider Transactions
MTB stock investors last saw insider trading activity on Aug 11.Meister Doris P. (Sr. Executive Vice President) most recently sold 1,000 shares at $136.02 per share on Aug 11. This transaction cost the insider $136,023. Director, BARNES JOHN P, sold 53,542 shares at a price of $140.00 on Jul 28. Then, on Jul 27, Director BARNES JOHN P sold 2,470 shares at a price of $140.32 per share. This transaction amounted to $346,589.
Valuation Metrics
MTB stock has a beta of 0.79. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.81 while the price-to-book (PB) in the most recent quarter is 0.87, with the price to cash flow ratio at 6.10.
The firm’s gross profit as reported stood at $5.82 billion against revenue of $6.25 billion.
Earnings Surprise
Net income and sales went up compared to those figures reported in the previous quarter. Shareholders hold equity totaling $165.95 million.
Let’s look briefly at M & T Bank Corp (MTB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 September was 41.69% to suggest the stock is trending Neutral, with historical volatility in this time period at 26.91%.
The stock’s 5-day moving average is $126.05, reflecting a -3.89% or -$5.03 change from its current price. MTB is currently trading -1.62% above its 20-day SMA, +2.12% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -6.77% and SMA200 by-22.96%.
Stochastic %K and %D was 60.40% and 64.37% and the average true range (ATR) pointed at 3.27. The RSI (14) points at 43.36%, while the 14-day stochastic is at 49.31% with the period’s ATR at 3.31. The stock’s 9-day MACD Oscillator is pointing at -1.42 and 0.21 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for M & T Bank Corp (NYSE: MTB), Argus upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for MTB stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MTB as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 10 have offered a “buy” rating.
What is MTB’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $136.00 and a high of $180.00, with their median price target at $148.50. Looking at these predictions, the average price target given by analysts is for M & T Bank Corp (MTB) stock is $151.10.
