Regional banker M&T Bank Corporation ( MTB ) on Tuesday caught some bullish commentary from analysts at Credit Suisse.
The firm maintained its "Neutral" rating on MTB but raised its price target to $102. That new target suggests a nearly 14% upside to the stock's Monday closing price of $89.82.
Credit Suisse also boosted its earnings estimates for the company, noting the recent acquisition of Hudson Bancorp should add nicely to earnings in coming quarters.
M&T Bank shares were mostly flat in premarket trading Tuesday.
The Bottom Line
Shares of M&T Bank ( MTB ) have a 3.12% dividend yield, based on last night's closing stock price of $89.82. The stock has technical support in the $84-$85 price area. If the shares can firm up, we see overhead resistance around the $94-$95 price levels.
M&T Bank Corporation ( MTB ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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