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Shares of M&T Bank Corp Fall Below Previous 52-Week Low

By Amy Schwartz

Shares of M&T Bank Corp (NYSE:MTB) traded today at $93.69, breaking its 52-week low. So far today approximately 67,000 shares have been exchanged, as compared to an average 30-day volume of 1 million shares.

M&T Bank Corp (NYSE:MTB) has potential upside of 103.8% based on a current price of $93.77 and analysts' consensus price target of $191.14. M&T Bank Corp shares should first meet resistance at the 50-day moving average (MA) of $151.22 and find additional resistance at the 200-day MA of $158.48.

Over the past year, M&T Bank Corphas traded in a range of $93.69 to $174.93 and are now at $93.77. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 4.1%.

M&T Bank Corporation is a bank holding company. The Company, through its banking subsidiaries, offer a variety of commercial banking, trust, and investment services to their customers. M&T Bank operates branch offices in New York, Maryland, Pennsylvania, Delaware, New Jersey, Virginia, West Virginia, and the District of Columbia.

SmarTrend recommended that its subscribers protect gains by selling shares of M&T Bank Corp on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $164.54. Since that call, shares of M&T Bank Corp have fallen 40.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows m&t bank corp

Ticker(s): MTB