M&T Bank Stock (NYSE:MTB) has gained 3.4% over the past week, outperforming the S&P 500 (up 3.1%). Furthermore, the same trend was evident on the horizon over the past ten days, with the stock gaining 3.1%. In comparison, the broader market trailed slightly at 3%.
The company provides many services like Retail Banking, Commercial Banking, Mortgage Banking, Business Banking, Wealth Management etc. Its top-line and profitability were affected in 2020 due to the COVID-19 crisis. Moreover, the impact was also evident in the first two quarters of 2021. However, it posted better than expected results in the third quarter, with revenue up 5% annually to $1.54 billion. Growth was primarily driven by a 38% jump in the Business Banking segment. Apart from revenue growth, there has been a favorable reduction in the provisions of MTB for credit losses, which has improved the profitability figures. Overall, the above factors are behind the positive investor sentiment towards the stock.
Now, is MTB stock set to rise further, or can we expect some correction? We believe that M&T Bank stock has a 54% chance of growth in the next month (21 trading days) based on our Machine Learning analysis of stock price trends over the past ten years. View our analysis M&T Bank shares likely to rise,
Twenty One Days: MTB 1.3%, vs. S&P500 2.8%; underperforming market
(50% chance event; 54% chance of increase in the next 69 days)
- M&T Bank Stock 1.3% gain Over the past twenty one trading days (one month), the broader market (S&P500) is up 2.8%
- A change of 1.3% or more in twenty one business days is a 50% probability event, having happened 1268 times out of 2515 in the past ten years.
- Out of these 1268 cases, the stock has seen positive momentum on 682 occasions in the next twenty one trading days
- This points to a 54% chance of the stock rising over the next twenty-one trading days.
Day 10: MTB 3.1%, versus the S&P500 3%; best performing market
(23% chance event; 54% chance of increase in the next 10 days)
- M&T Bank Stock 3.1% increase Over the last ten trading days (two weeks), a gain of 3% over the broader market (S&P500)
- A change of 3.1% or more in ten trading days is a 23% probability event, having happened 582 times out of 2515 in the past ten years.
- Out of these 582 cases, the stock has seen positive momentum on 312 occasions in the next ten trading days
- This is a 54. points to% Probability of the stock to rise in the next 10 trading days
Day five: MTB 3.4%, versus S&P500 3.1%; best performing market
(16% chance event; 56% chance of increase over the next five days)
- M&T Bank Stock Received 3.4% in the five-day trading period ending 12/29/2021, compared to a broader market (S&P500) gain of 3.1%
- A change of 3.4% or more in five trading days (one week) is a 16% probability event, occurring 390 times out of 2515 in the past ten years.
- Out of these 390 instances, the stock has seen positive momentum on 218 occasions over the next five trading days.
- This points to a 56% chance of the stock rising over the next five trading days
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