BUZZ-M&T Bank dips as Truist downgrades to 'hold'
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M&T Bank shares fell 0.87% to $203.96 after Truist downgraded its stock rating from "buy" to "hold." Truist noted that M&T's excess-capital advantage is no longer unique as regional banks strengthen their balance sheets. Concerns persist about M&T's potential M&A activities, viewed as a negative catalyst. Truist cited improving loan growth and a slightly cheaper forward P/E for the downgrade. Currently, 13 of 22 brokerages rate the stock "buy" or "strong buy," with a median price target of $220.
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