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Lower expenses are likely to have supported M&T Bank's (MTB) bottom-line growth in second-quarter 2023. However, declining NII on softer loan demand is concerning.
Is M&T Bank (MTB) a great pick from the value investor's perspective right now? Read on to know more.
The Dow narrowly missed closing in the green today, -0.01%, while the small-cap Russell 2000 fell off -0.80% for the session.
M&T Bank Corp. MTB stock is up 0.4% on Wednesday after the bank issued a second-quarter update that on the balance matched analyst forecasts by J.P.Morgan Chase analysts. “Overall, the intra-quarter update was generally in line with many trends shared by regional bank peers such as solid loan growth, modest deposit decreases, and rising deposit betas,” JPMorgan analysts said as they reiterated a neutral rating on the stock.
MTB Metals (TSX-V:MTB, OTCQB:MBYMF) Corp announced that drilling has begun at the Red Cliff Gold project, which is operated by its joint venture partner Decade Resources Inc. MTB holds a 1.35% NSR royalty and a 35% interest in the mine, which is located 20 kilometers north of Stewart in British Columbia. Drilling is underway on the Upper Montrose Zone (UMZ), 200 meters north and 200 meters higher than the Lower Montrose Zone.
Many U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled sector, according to new data and market sources.
Regional banking stocks to watch in the stock market this week.
M&T's commercial real estate exposure is close to 300% of core capital, which is the level of exposure that starts to attract attention from regulators. Credit quality is still holding up.
The 2023 Q1 earnings picture emerging at this early stage is one of resilience and stability, with an above-average proportion of companies beating estimates and providing a good-enough outlook in an uncertain macro environment.
The 2023 Q1 earnings picture emerging at this early stage is one of resilience and stability, with an above-average proportion of companies beating estimates and providing a good-enough outlook in an uncertain macro environment.