2023-03-08 08:28:00 ET
The large Buffalo, New York-based regional lender M&T Bank (NYSE: MTB) has had a chaotic last three years. When the pandemic first hit in 2020, the bank had to worry about its hotel loan portfolio based in New York City, which was one of the hardest-hit sectors in the hardest-hit regions early on in the pandemic.
Then M&T took advantage of a more active deal environment and made its largest-ever acquisition, People's United. But large bank acquisitions can be tricky and difficult to pull off, and investors aren't always so interested in staying on for the ride.
This year, despite a more difficult environment for banks with rising deposit costs and signs of credit normalization, M&T seems much better positioned, having integrated People's United and seen credit normalize more positively. The stock may be turning the corner. Here's why.
For further details see:
M&T Bank's Stock Is Starting to Turn the Corner