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Here's What Key Metrics Tell Us About M&T Bank Corporation (MTB) Q3 Earnings
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M&T Bank Corporation (MTB - Free Report) reported $2.34 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 4.2%. EPS of $4.05 for the same period compares to $3.83 a year ago.
The reported revenue represents a surprise of +0.44% over the Zacks Consensus Estimate of $2.32 billion. With the consensus EPS estimate being $3.94, the EPS surprise was +2.79%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how M&T Bank Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 53.7% versus the seven-analyst average estimate of 54.3%.
Net Interest margin - Proforma: 3.8% versus the seven-analyst average estimate of 3.7%.
Average Balance - Total earning assets: $187.40 billion versus the seven-analyst average estimate of $189.89 billion.
Net charge-offs to average total net loans: 0.3% versus the five-analyst average estimate of 0.3%.
Total Nonperforming Loans: $2.34 billion versus the three-analyst average estimate of $2.50 billion.
Total Nonperforming Assets: $2.38 billion compared to the $2.51 billion average estimate based on three analysts.
Total other income: $560 million versus $561.39 million estimated by seven analysts on average.
Mortgage banking revenues: $105 million versus $107.79 million estimated by seven analysts on average.
Service charges on deposit accounts: $121 million compared to the $116.79 million average estimate based on seven analysts.
Trust income: $155 million versus the seven-analyst average estimate of $154.32 million.
Net Interest Income (FTE): $1.79 billion compared to the $1.77 billion average estimate based on seven analysts.
Net Interest Income: $1.78 billion versus $1.76 billion estimated by six analysts on average.
Shares of M&T Bank Corporation have returned -1.6% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About M&T Bank Corporation (MTB) Q3 Earnings
M&T Bank Corporation (MTB - Free Report) reported $2.34 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 4.2%. EPS of $4.05 for the same period compares to $3.83 a year ago.
The reported revenue represents a surprise of +0.44% over the Zacks Consensus Estimate of $2.32 billion. With the consensus EPS estimate being $3.94, the EPS surprise was +2.79%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how M&T Bank Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 53.7% versus the seven-analyst average estimate of 54.3%.
- Net Interest margin - Proforma: 3.8% versus the seven-analyst average estimate of 3.7%.
- Average Balance - Total earning assets: $187.40 billion versus the seven-analyst average estimate of $189.89 billion.
- Net charge-offs to average total net loans: 0.3% versus the five-analyst average estimate of 0.3%.
- Total Nonperforming Loans: $2.34 billion versus the three-analyst average estimate of $2.50 billion.
- Total Nonperforming Assets: $2.38 billion compared to the $2.51 billion average estimate based on three analysts.
- Total other income: $560 million versus $561.39 million estimated by seven analysts on average.
- Mortgage banking revenues: $105 million versus $107.79 million estimated by seven analysts on average.
- Service charges on deposit accounts: $121 million compared to the $116.79 million average estimate based on seven analysts.
- Trust income: $155 million versus the seven-analyst average estimate of $154.32 million.
- Net Interest Income (FTE): $1.79 billion compared to the $1.77 billion average estimate based on seven analysts.
- Net Interest Income: $1.78 billion versus $1.76 billion estimated by six analysts on average.
View all Key Company Metrics for M&T Bank Corporation here>>>Shares of M&T Bank Corporation have returned -1.6% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.