UPDATE: Keefe, Bruyette & Woods Upgrades M&T Bank Corporation to Outperform, Raises PT
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
|Apr 2015||Wells Fargo||Downgrades||Market Perform||Underperform|
|Apr 2015||Sandler O'Neill||Reinstates||Buy|
|Jan 2015||Keefe Bruyette & Woods||Maintains||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.