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M&T Bank Upgraded at KBW (MTB)

By Dividend.com,  December 13, 2012, 09:43:23 AM EDT

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 .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: MTB



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