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.
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