M&T Bank stock slips 2.02% in rough market session
Updated
Updated · MarketWatch · May 7
M&T Bank stock slips 2.02% in rough market session
4 articles · Updated · MarketWatch · May 7
Shares closed at $213.02 on Thursday as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
The decline ended a two-day winning streak, leaving the stock 10.87% below its 52-week high of $239 reached on 11 February.
M&T outperformed JPMorgan, down 2.74%, but lagged Bank of America and Wells Fargo, each down about 1.6%; trading volume of 1.1 million was slightly below its 50-day average.
M&T's stock is called undervalued despite its recent drop. Is this a buying opportunity or a sign of unstated risks?
With M&T planning more acquisitions, can it maintain its strong credit discipline in a volatile economic climate?