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M&T Bank Upgraded at KBW (MTB)

By
December 13th, 2012

M&T Bank Upgraded at KBW (MTB)

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Keefe, Bruyette & Woods announced on Thursday that they have upgraded financial services company, M&T Bank Corporation(MTB).

The firm reported that they have upgraded MTB to an “Outperform,” and have given the company a $111 price target. This price target suggests a 11% increase from the stock’s current price of $98.70. Analysts expect the company to see a growth in margin.

M&T Bank shares were 91 cents, or 0.93% during Thursday morning trading. The stock is up 29.5% YTD.

The Bottom Line
Shares of M&T Bank (MTB) have a 2.85% dividend yield, based on last night’s closing stock price of $98.11. The stock has technical support in the $94-$95 price area. If the shares can firm up, we see overhead resistance around the $105 price level.

M&T Bank Corporation(MTB) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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Disclaimer: Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.