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M&T Bank (MTB) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, M&T Bank Corporation (MTB - Free Report) reported revenue of $2.26 billion, down 6% over the same period last year. EPS came in at $3.09, compared to $4.09 in the year-ago quarter.
The reported revenue represents a surprise of +0.16% over the Zacks Consensus Estimate of $2.26 billion. With the consensus EPS estimate being $3.13, the EPS surprise was -1.28%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how M&T Bank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 60.8% versus the seven-analyst average estimate of 60.3%.
Net Interest margin - Proforma: 3.5% versus the seven-analyst average estimate of 3.6%.
Average Balance - Total earning assets: $193.14 billion compared to the $190.91 billion average estimate based on seven analysts.
Net charge-offs to average total net loans: 0.4% compared to the 0.4% average estimate based on five analysts.
Total Nonperforming Assets: $2.34 billion versus $2.22 billion estimated by three analysts on average.
Nonaccrual loans: $2.30 billion versus $2.32 billion estimated by three analysts on average.
Tier 1 Capital Ratio: 12.4% versus the two-analyst average estimate of 12.3%.
Total Capital Ratio: 14% compared to the 14% average estimate based on two analysts.
Total other income: $580 million versus $580.94 million estimated by seven analysts on average.
Mortgage banking revenues: $104 million versus the seven-analyst average estimate of $106.38 million.
Service charges on deposit accounts: $124 million versus the seven-analyst average estimate of $117.91 million.
Trust income: $160 million versus $160.66 million estimated by seven analysts on average.
Shares of M&T Bank have returned -4.3% over the past month versus the Zacks S&P 500 composite's -0.9% 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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M&T Bank (MTB) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, M&T Bank Corporation (MTB - Free Report) reported revenue of $2.26 billion, down 6% over the same period last year. EPS came in at $3.09, compared to $4.09 in the year-ago quarter.
The reported revenue represents a surprise of +0.16% over the Zacks Consensus Estimate of $2.26 billion. With the consensus EPS estimate being $3.13, the EPS surprise was -1.28%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how M&T Bank performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 60.8% versus the seven-analyst average estimate of 60.3%.
- Net Interest margin - Proforma: 3.5% versus the seven-analyst average estimate of 3.6%.
- Average Balance - Total earning assets: $193.14 billion compared to the $190.91 billion average estimate based on seven analysts.
- Net charge-offs to average total net loans: 0.4% compared to the 0.4% average estimate based on five analysts.
- Total Nonperforming Assets: $2.34 billion versus $2.22 billion estimated by three analysts on average.
- Nonaccrual loans: $2.30 billion versus $2.32 billion estimated by three analysts on average.
- Tier 1 Capital Ratio: 12.4% versus the two-analyst average estimate of 12.3%.
- Total Capital Ratio: 14% compared to the 14% average estimate based on two analysts.
- Total other income: $580 million versus $580.94 million estimated by seven analysts on average.
- Mortgage banking revenues: $104 million versus the seven-analyst average estimate of $106.38 million.
- Service charges on deposit accounts: $124 million versus the seven-analyst average estimate of $117.91 million.
- Trust income: $160 million versus $160.66 million estimated by seven analysts on average.
View all Key Company Metrics for M&T Bank here>>>Shares of M&T Bank have returned -4.3% over the past month versus the Zacks S&P 500 composite's -0.9% 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.