Upgrades And Downgrades In Regional Banks

There has been a slew of upgrades and downgrades this week in the regional banks. Regional banks are getting more attention lately, as investors believe these banks will suffer more than their larger brethren in the years to come. M&T Bank MTB was upgraded to Buy by Stifel Nicolaus and to Outperform by RBC Capital. RBC has an $86 price target on shares. BMO Capital also initiated coverage on MTB with an Outperform rating and $85 price target. KBW, Credit Suisse, and Citigroup raised their price target on the stock. Price targets were raised to $79, $90, and $86, respecitvely. BB&T BBT was upgraded to Buy and a $28 price target at Janney Montgomery Scott. Citigroup cut its price target to $35 from $38. Rochdale Securities has a $28 price target on shares. Moody's downgraded was Zions Bancorporation ZION, while Credit Suisse upgraded it to Neutral from Underperform, with a target of $26. Jefferies & Co initiated coverage with a Buy rating and $26 target, while D.A. Davidson initiated it at Buy and a $31 price target.