Why M&T Bank Stock Was Down 13% This Week
M&T Bank (NYSE: MTB) had a rough week, as its stock price plummeted 13% -- from $185.56 per share when the market closed last Friday to $161.40 per share at the closing bell on Thursday. It was up about 1% on Friday as of 1:30 p.m. ET and is up about 6% year to date.
The bank was well off the pace of the major indexes, which were all up this week. The S&P 500 and the Dow Jones Industrial Average jumped about 2.2% over that same time frame, while the Nasdaq was up 3.2%.
While many of the large banks posted better-than-anticipated earnings over the past few weeks, the same has not been true for some smaller banks. That certainly was the case for M&T, a Buffalo, N.Y.-based regional bank.
Source Fool.com
