Core Insights - M&T Bank Corporation reported $2.33 billion in revenue for Q3 2024, a slight year-over-year decline of 0.1%, with an EPS of $4.08 compared to $4.05 a year ago, exceeding the Zacks Consensus Estimate of $2.3 billion by +1.33% and delivering an EPS surprise of +13.33% [1] Financial Performance Metrics - Total earning assets averaged $191.37 billion, slightly below the $192.15 billion estimate [2] - Efficiency Ratio was reported at 55%, better than the 56% average estimate [2] - Proforma Net Interest Margin was 3.6%, matching the average estimate [2] - Net charge-offs to average total net loans stood at 0.4%, consistent with the average estimate [2] - Total Nonperforming Assets were $1.96 billion, slightly below the $1.97 billion estimate [2] - Tier 1 Capital Ratio was 13.1%, above the 13% average estimate [2] - Total Capital Ratio was reported at 14.7%, below the 14.9% average estimate [2] - Nonaccrual loans totaled $1.93 billion, slightly below the $1.95 billion estimate [2] - Trust income was $170 million, below the $172.37 million estimate [2] - Mortgage banking revenues reached $109 million, slightly above the $108.54 million estimate [2] - Service charges on deposit accounts were $132 million, exceeding the $125.61 million estimate [2] - Total other income was reported at $606 million, above the $587.77 million estimate [2] Stock Performance - M&T Bank shares returned +8.8% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change, with a current Zacks Rank of 3 (Hold) indicating potential performance in line with the broader market [3]

M&T Bank Corporation (MTB) came out with quarterly earnings of $4.08 per share, beating the Zacks Consensus Estimate of $3.60 per share. This compares to earnings of $4.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.33%. A quarter ago, it was expected that this company would post earnings of $3.50 per share when it actually produced earnings of $3.79, delivering a surprise of 8.29%. Over the last four quarters, the com ...

Bank continues to lead small-business lending throughout its footprint BUFFALO, N.Y., Oct. 16, 2024 /PRNewswire/ -- M&T Bank (NYSE:MTB) approved 1,832 7(a) program U.S. Small Business Administration (SBA) loans in the past year and finished the SBA's 2024 fiscal year as the 10thlargest lender in the country. This marked the 16th consecutive year M&T Bank has ranked among the nation's top 10 SBA lenders. M&T Bank approved 1,832 SBA 7(a) loans for a total of $207.8 million in fiscal year 2024, which ended Sep ...

Analysts on Wall Street project that M&T Bank Corporation (MTB) will announce quarterly earnings of $3.60 per share in its forthcoming report, representing a decline of 11.1% year over year. Revenues are projected to reach $2.3 billion, declining 1.4% from the same quarter last year. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during thi ...

Wall Street expects a year-over-year decline in earnings on lower revenues when M&T Bank Corporation (MTB) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 17, 2024, might help the stock move higher if these key numbers are bett ...

M&T Bank Corporation (MTB) shares have gained 22.5% in the past six months, outperforming the industry's growth of 6.5%. The stock has also outperformed its close peers like Bank of America Corporation (BAC) and Comerica Incorporated (CMA) in the same time frame. Six-Month Price Performance Image Source: Zacks Investment Research After a strong rally, investors are now faced with a critical question: Is it the right time to buy MTB stock, or should they wait for a more favorable entry point? Let's explore t ...

Core Points - M&T Bank Corporation will decrease its prime lending rate from 8.50% to 8.00% effective September 19, 2024 [1] - M&T Bank is a financial holding company headquartered in Buffalo, New York, providing banking products and services across 12 states in the northeastern U.S. [1] Company Overview - M&T Bank's principal banking subsidiary is Manufacturers and Traders Trust Company [1] - The bank operates from Maine to Virginia and Washington, D.C. [1] - Trust-related services are offered in select markets in the U.S. and internationally through Wilmington Trust-affiliated companies [1]

Core Viewpoint - M&T Bank Corporation is set to announce its third quarter 2024 earnings results on October 17, 2024, before market opening, followed by a conference call to discuss the results [1]. Group 1: Earnings Announcement - The earnings results will be released in a press release before the market opens on October 17, 2024 [1]. - A conference call and webcast will take place at 8:00 a.m. (ET) on the same day to discuss the earnings results [1]. Group 2: Participation Details - Domestic callers can participate by dialing toll-free (800) 347-7315, while international participants can call (785) 424-1755 [2]. - Callers should reference M&T Bank Corporation or the conference ID MTBQ324 during the call [2]. Group 3: Replay Information - A replay of the conference call will be available until October 24, 2024, through specific phone numbers for domestic and international participants [3]. - The webcast archive will be accessible on M&T's website by 3:00 p.m. on October 17, 2024 [3]. Group 4: Company Overview - M&T Bank Corporation is a financial holding company based in Buffalo, New York, providing banking products and services across 12 states from Maine to Virginia and Washington, D.C. [4]. - Trust-related services are offered in select markets in the U.S. and internationally through M&T's Wilmington Trust-affiliated companies and M&T Bank [4].

BUFFALO, N.Y., Aug. 20, 2024 /PRNewswire/ -- M&T Bank Corporation ("M&T") (NYSE:MTB) announced that it has declared a quarterly cash dividend of $1.35 per share on its common stock. The dividend will be payable September 30, 2024, to shareholders of record at the close of business on September 3, 2024. About M&T M&T is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. ...

Core Insights - M&T Bank has appointed Lopa Kolluri as Head of Affordable Housing Lending, emphasizing its commitment to affordable housing and community support [1][2] - Kolluri will oversee the development and management of the Affordable Housing vertical, aiming to enhance customer service and expand business opportunities [1][2] - The bank recognizes the growing need for affordable housing and aims to provide comprehensive financing solutions to meet client needs [2][3] Company Overview - M&T Bank Corporation is headquartered in Buffalo, New York, and operates in 12 states across the northeastern U.S. [5] - The bank's principal subsidiary, M&T Bank, offers a range of banking products and services, including trust-related services in select markets [5] Leadership Background - Lopa Kolluri brings over 25 years of experience in affordable housing and community development, previously serving as Senior Vice President in M&T's Commercial Real Estate Innovation Office [2][3] - Before joining M&T, Kolluri led the Federal Housing Administration at the U.S. Department of Housing and Urban Development, overseeing $1.2 trillion in insured mortgages [3]