M&T, based in Buffalo, has always been more conservative than its national rivals. They went down in price during the financial crisis, but not so much as Citi or B of A, and unlike those two behemoths, M&T never reduced its cash dividend to shareholders. You'll see the stock up sharply today. Rumors have swirled M&T recently about a possible takeover. Today's news will do nothing to dampen speculation.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).