Market Overview

UPDATE: Keefe, Bruyette & Woods Upgrades M&T Bank Corporation to Outperform, Raises PT

Related MTB
M&T Bank Rises On Organic Growth; High Expenses A Worry?
Bank Of America's 2015 Outlook For Interest Rate-Sensitive Stocks

In a report published Friday, Keefe, Bruyette & Woods upgraded its rating on M&T Bank Corporation (NYSE: MTB) to Outperform, and raised its price target from $109.00 to $111.00.

Keefe, Bruyette & Woods noted, “We are raising '12 EPS estimates 15c to $7.57 and '13 estimates $0.25 to $8.45, largely on revised mortgage banking estimates and raising our target price $2 to $111. We believe MTB is well positioned to offset NIM headwinds with expense controls, and we believe the HCBK merger will be very accretive and a catalyst for consensus estimates to move higher. We are raising our rating to Outperform.”

M&T Bank Corporation closed on Thursday at $97.80.

Latest Ratings for MTB

DateFirmActionFromTo
Dec 2014Raymond JamesDowngradesMarket PerformUnderperform
Oct 2014CitigroupMaintainsNeutral
Jul 2014Keefe Bruyette & WoodsUpgradesMarket PerformOutperform

View More Analyst Ratings for MTB
View the Latest Analyst Ratings

Posted-In: Keefe Bruyette & WoodsAnalyst Color Upgrades Analyst Ratings

 

Related Articles (MTB)

Around the Web, We're Loving...

Get Benzinga's Newsletters