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A decline in revenues and higher expenses hurt M&T Bank's (MTB) Q1 earnings. However, a solid loan and deposit balance offer some support.
M&T Bank (MTB) shares rose in intraday trading Monday as the regional bank reduced its lending to the struggling commercial real estate market.
The headline numbers for M&T Bank (MTB) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
M&T Bank Corporation (MTB) came out with quarterly earnings of $3.09 per share, missing the Zacks Consensus Estimate of $3.13 per share. This compares to earnings of $4.09 per share a year ago.
Despite a rise in loans, increasing funding costs are likely to have hurt M&T Bank's (MTB) Q1 NII growth. Also, softer mortgage income is expected to have affected its non-interest income.
Get a deeper insight into the potential performance of M&T Bank (MTB) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
M&T Bank (MTB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
S&P Ratings downgrades the outlook on First Commonwealth, M&T Bank (MTB), Synovus (SNV), Trustmark (TRMK) and Valley National (VLY) to negative from stable.
BUFFALO, N.Y. , March 18, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE:MTB) plans to announce its first quarter 2024 earnings results in a press release that will be issued before the market opens on Monday, April 15, 2024.
M&T Bank's (MTB) top-line growth is supported by rising net interest income. However, high costs and deteriorating credit quality are concerning.