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Compared to Estimates, M&T Bank (MTB) Q3 Earnings: A Look at Key Metrics
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M&T Bank Corporation (MTB - Free Report) reported $2.33 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.1%. EPS of $4.08 for the same period compares to $4.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of +1.33%. The company delivered an EPS surprise of +13.33%, with the consensus EPS estimate being $3.60.
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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Balance - Total earning assets: $191.37 billion compared to the $192.15 billion average estimate based on five analysts.
Efficiency Ratio: 55% compared to the 56% average estimate based on five analysts.
Net Interest margin - Proforma: 3.6% versus 3.6% estimated by five analysts on average.
Net charge-offs to average total net loans: 0.4% compared to the 0.4% average estimate based on four analysts.
Total Nonperforming Assets: $1.96 billion compared to the $1.97 billion average estimate based on two analysts.
Tier 1 Capital Ratio: 13.1% compared to the 13% average estimate based on two analysts.
Total Capital Ratio: 14.7% compared to the 14.9% average estimate based on two analysts.
Nonaccrual loans: $1.93 billion versus the two-analyst average estimate of $1.95 billion.
Trust income: $170 million compared to the $172.37 million average estimate based on five analysts.
Mortgage banking revenues: $109 million versus the five-analyst average estimate of $108.54 million.
Service charges on deposit accounts: $132 million versus $125.61 million estimated by five analysts on average.
Total other income: $606 million versus $587.77 million estimated by five analysts on average.
Shares of M&T Bank have returned +8.8% over the past month versus the Zacks S&P 500 composite's +3.8% 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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Compared to Estimates, M&T Bank (MTB) Q3 Earnings: A Look at Key Metrics
M&T Bank Corporation (MTB - Free Report) reported $2.33 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.1%. EPS of $4.08 for the same period compares to $4.05 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of +1.33%. The company delivered an EPS surprise of +13.33%, with the consensus EPS estimate being $3.60.
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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average Balance - Total earning assets: $191.37 billion compared to the $192.15 billion average estimate based on five analysts.
- Efficiency Ratio: 55% compared to the 56% average estimate based on five analysts.
- Net Interest margin - Proforma: 3.6% versus 3.6% estimated by five analysts on average.
- Net charge-offs to average total net loans: 0.4% compared to the 0.4% average estimate based on four analysts.
- Total Nonperforming Assets: $1.96 billion compared to the $1.97 billion average estimate based on two analysts.
- Tier 1 Capital Ratio: 13.1% compared to the 13% average estimate based on two analysts.
- Total Capital Ratio: 14.7% compared to the 14.9% average estimate based on two analysts.
- Nonaccrual loans: $1.93 billion versus the two-analyst average estimate of $1.95 billion.
- Trust income: $170 million compared to the $172.37 million average estimate based on five analysts.
- Mortgage banking revenues: $109 million versus the five-analyst average estimate of $108.54 million.
- Service charges on deposit accounts: $132 million versus $125.61 million estimated by five analysts on average.
- Total other income: $606 million versus $587.77 million estimated by five analysts on average.
View all Key Company Metrics for M&T Bank here>>>Shares of M&T Bank have returned +8.8% over the past month versus the Zacks S&P 500 composite's +3.8% 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.