M&T Bank Analysts Boost Their Forecasts Following Upbeat Earnings

Core Insights - M&T Bank Corporation reported better-than-expected second-quarter financial results, with a 24% increase in diluted earnings per share from the first quarter [4] - The bank's quarterly earnings were $3.79 per share, surpassing the analyst consensus estimate of $3.50 per share, and quarterly sales reached $2.302 billion, exceeding expectations of $2.277 billion [7] Financial Performance - The second quarter results reflect a strong start to the year, with significant growth in commercial and industrial and consumer loan portfolios while reducing commercial real estate exposure [4] - Credit metrics improved, with both nonaccrual and total criticized loans declining sequentially [4] Analyst Ratings and Price Targets - Keefe, Bruyette & Woods analyst David Konrad maintained a Market Perform rating and increased the price target from $170 to $180 [5] - DA Davidson analyst Peter Winter maintained a Neutral rating and raised the price target from $159 to $185 [5] - RBC Capital analyst Gerard Cassidy maintained an Outperform rating and increased the price target from $160 to $174 [5] Market Reaction - Following the announcement of the financial results, M&T Bank shares fell 0.5% to trade at $166.51 [2]