M and T Bank (MTB) NewsBite - MTB Downgraded By Keefe Bruyette Woods
Posted: Wednesday, April 22, 2009 12:24 PM EDT
M and T Bank (MTB) was downgraded today by analysts at Keefe Bruyette Woods and the stock is now at $51.46, down $0.29 (-0.56%) on volume of 973,771 shares traded. The brokerage downgraded MTB to Underperform from Market Perform. Over the last 52 weeks the stock has ranged from a low of $29.11 to a high of $108.53. M and T Bank stock has been showing support around $44.88 and resistance in the $55.86 range. Technical indicators for the stock are bearish and S&P gives MTB a negative 1 STARS (out of 5) strong sell ranking. If you are looking for a hedged play on MTB the stock seems like it could be a candidate for a May out-of-the-money bear-call credit spread above the 60 range. [ABR-Seven Summits Strategic Investments NewsBite]
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