For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is M&T Bank (MTB - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
M&T Bank is one of 829 individual stocks in the Finance sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MTB is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MTB's full-year earnings has moved 2.22% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MTB has returned about 1.98% since the start of the calendar year. In comparison, Finance companies have returned an average of -2.59%. This means that M&T Bank is performing better than its sector in terms of year-to-date returns.
Breaking things down more, MTB is a member of the Banks - Major Regional industry, which includes 16 individual companies and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have lost about 1.59% so far this year, so MTB is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to MTB as it looks to continue its solid performance.