Argus Starts M&T Bank (MTB) at Hold

Argus initiates coverage on M&T Bank (NYSE: MTB) with a Hold rating.

The firm notes underlying loan growth is healthy and its credit quality is above average. That said the projected 2016 P/E of 13.2 is seen as rich relative to those of peer regional banks, and further multiple expansion is unlikely near term

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 $111.33 yesterday.

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