M&T Bank downgraded to Hold from Buy at Truist

Truist analyst Brian Foran downgraded M&T Bank to Hold from Buy with an unchanged price target of $217. The company’s excess capital position is now less of a differentiator versus peers as more regional banks “tip into an excess position,” the analyst tells investors in a research note. Truist cites valuation for the downgrade of M&T, saying investors should lock in profits at current share levels.