UPDATE: Baird Upgrades M&T Bank (MTB) to Outperform

October 23, 2018 5:46 AM EDT
Get Alerts MTB Hot Sheet
Price: $129.33 +0.26%

Rating Summary:
    9 Buy, 17 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - October 23, 2018 9:03 AM EDT)

(updated to add analyst comment)

Baird analyst David George upgraded M&T Bank (NYSE: MTB) from Neutral to Outperform with a price target of $185.00 (from $180.00).

The analyst comments "Absolute valuation appears compelling with MTB trading at ~10x 2020 EPS (~25% discount to the historical forward multiple), and shares trade at just a ~5% premium to large-cap regional peers (vs. the historical ~17% relative premium). MTB’s focus on risk-adjusted returns and lower credit risk profile should be rewarded in a more challenging, late-cycle operating environment. We are buyers."

For an analyst ratings summary and ratings history on M&T Bank click here. For more ratings news on M&T Bank click here.

Shares of M&T Bank closed at $158.00 yesterday.

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