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Core Viewpoint - M&T Bank Corporation reported strong fourth-quarter 2024 earnings, with adjusted net operating earnings per share of $3.92, exceeding expectations and showing significant year-over-year growth from $2.81 per share [1][2]. Financial Performance - For the fourth quarter of 2024, adjusted net operating earnings per share was $14.64, surpassing the Zacks Consensus Estimate of $14.58, but down from $15.79 in the previous year [2]. - Net income available to common shareholders was $644 million, reflecting a 40.9% increase from the prior-year quarter, while full-year net income was $2.44 billion, a decline of 7.1% year over year [3]. - Quarterly revenues reached $2.39 billion, exceeding the Zacks Consensus Estimate of $2.3 billion and increasing by 3.7% year over year [4]. - Total non-interest income was $657 million, up 13.7% year over year, driven by increases in trust income and service charges [5]. - Total non-interest expenses decreased by 6% year over year to $1.36 billion, primarily due to lower FDIC assessment charges [5]. Efficiency and Profitability - The efficiency ratio improved to 56.8%, down from 62.1% in the previous year, indicating enhanced profitability [6]. - The estimated Common Equity Tier 1 ratio rose to 11.67%, up from 10.98% in the fourth quarter of 2023, reflecting a stronger capital position [10]. Loan and Deposit Trends - Loans and leases increased to $135.7 billion, up nearly 1% from the prior quarter, while total deposits fell by 2.1% to $161.1 billion [7]. - The ratio of non-accrual loans to total net loans decreased to 1.25%, down from 1.62% year over year, indicating improved credit quality [9]. Credit Quality - Net charge-offs rose by 8.1% to $160 million compared to the prior-year quarter, while the provision for credit losses decreased by 37.8% to $140 million [8]. - Non-performing assets declined by 21.8% year over year to $1.73 billion, suggesting an improvement in asset quality [8]. Capital Management - M&T Bank repurchased 957,988 shares of its common stock for $200 million in the fourth quarter of 2024, reflecting a commitment to capital distribution [11]. Future Outlook - The company anticipates that rising loan balances and non-interest income will support organic growth, although declining deposit balances and increasing net charge-offs present near-term challenges [12].

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Call Start: 08:00 January 1, 0000 9:03 AM ET M&T Bank Corporation (NYSE:MTB) Q4 2024 Earnings Conference Call January 16, 2025 08:00 AM ET Company Participants Brian Klock - Head, Markets & IR Daryl Bible - Senior Executive Vice President & CFO Conference Call Participants Manan Gosalia - Morgan Stanley Bill Carcache - Wolfe Research Ebrahim Poonawala - Bank of America Gerard Cassidy - RBC John Pancari - Evercore Peter Winter - D.A. Davidson Frank Schiraldi - Piper Sandler Erika Najarian - UBS Christopher S ...

For the quarter ended December 2024, M&T Bank Corporation (MTB) reported revenue of $2.39 billion, up 3.7% over the same period last year. EPS came in at $3.92, compared to $2.81 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $2.33 billion, representing a surprise of +2.22%. The company delivered an EPS surprise of +5.95%, with the consensus EPS estimate being $3.70.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

M&T Bank Corporation (MTB) came out with quarterly earnings of $3.92 per share, beating the Zacks Consensus Estimate of $3.70 per share. This compares to earnings of $2.81 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.95%. A quarter ago, it was expected that this company would post earnings of $3.60 per share when it actually produced earnings of $4.08, delivering a surprise of 13.33%.Over the last four quarters, the compa ...

One M&T Plaza, Buffalo, NY 14203 January 16, 2025 M&T Bank Corporation (NYSE:MTB) announces fourth quarter 2024 results M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $681 million or $3.86 of diluted earnings per common share and full-year net income of $2.59 billion or $14.64 of diluted earnings per common share. | (Dollars in millions, except per share data) | | 4Q24 | | 3Q24 | | 4Q23 | | 2024 | | 2023 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | E ...

BUFFALO, N.Y., Jan. 16, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $681 million or $3.86 of diluted earnings per common share and full-year net income of $2.59 billion or $14.64 of diluted earnings per common share. (Dollars in millions, except per share data) 4Q24 3Q24 4Q23 2024 2023 Earnings Highlights Net interest income $        1,728 $        1,726 $        1,722 $        6,852 $        7,115 Taxable-equivalent a ...

Group 1 - M&T Bank Corporation is set to release its fourth-quarter earnings results on January 16, 2025, with analysts expecting earnings of $3.74 per share, an increase from $3.60 per share in the same period last year [1] - The projected revenue for the recent quarter is $2.34 billion, compared to $2.3 billion a year earlier [1] - Krista Phillips has been appointed as the Chief Customer Officer of M&T Bank as of January 6 [1] Group 2 - M&T Bank shares experienced a decline of 1.8%, closing at $187.75 [2] - Truist Securities initiated coverage on M&T Bank with a Buy rating and a price target of $233 [3] - Compass Point maintained a Neutral rating and increased the price target from $220 to $250 [3] - Keefe, Bruyette & Woods maintained a Market Perform rating and raised the price target from $205 to $221 [3] - JP Morgan downgraded the stock from Overweight to Neutral while raising the price target from $215 to $223.5 [3] - Piper Sandler maintained an Overweight rating and increased the price target from $205 to $243 [3]

M&T Bank Corporation (MTB) is slated to report fourth-quarter 2024 results on Jan. 16, before the opening bell. The company is expected to have registered a year-over-year increase in quarterly revenues and earnings.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, M&T Bank’s results benefited from a rise in loans and leases and non-interest income (NII). A decline in NII and higher expenses were headwinds.Quarterly earnings surpassed the consensus estima ...