Compared to Estimates, M&T Bank (MTB) Q3 Earnings: A Look at Key Metrics

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]