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Stock Market & Financial Investment News

News Breaks
February 12, 2014
08:59 EDTMTBM&T Bank issues revised FY13 results based on litigation settlement
M&T Bank reported that on February 10, it reached a settlement in the previously disclosed matter of Mennen, et al v. Mennen, Wilmington Trust Company, et al that was scheduled for a trial to commence yesterday in the Delaware Chancery Court. Following that settlement, M&T recognized an increase to its reserve for litigation as of December 31, 2013 of $40M that reduced net income from that which M&T reported on January 17 by $24M. The impact on diluted earnings per common share was 18c for each of the quarter and the year ended December 31, 2013.
News For MTB From The Last 14 Days
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June 24, 2015
06:37 EDTMTBDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
June 23, 2015
10:00 EDTMTBOn The Fly: Analyst Upgrade Summary
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05:46 EDTMTBM&T Bank upgraded to Market Perform from Underperform at Wells Fargo
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