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M&T Bank Corporation (MTB) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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M&T Bank Corporation (MTB - Free Report) reported $2.6 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 31.2%. EPS of $5.12 for the same period compares to $3.10 a year ago.
The reported revenue represents a surprise of +9.00% over the Zacks Consensus Estimate of $2.39 billion. With the consensus EPS estimate being $4.11, the EPS surprise was +24.57%.
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: 48.9% versus 54.83% estimated by six analysts on average.
Net Interest margin - Proforma: 3.91% compared to the 3.89% average estimate based on six analysts.
Average Balance - Total earning assets: $185.94 billion versus $184.41 billion estimated by six analysts on average.
Net charge-offs to average total net loans: 0.38% compared to the 0.28% average estimate based on four analysts.
Total Nonperforming Loans: $2.44 billion versus $2.69 billion estimated by two analysts on average.
Total Nonperforming Assets: $2.48 billion versus $2.74 billion estimated by two analysts on average.
Trust income: $172.46 million versus $185.70 million estimated by six analysts on average.
Mortgage banking revenues: $107.11 million versus $92.80 million estimated by six analysts on average.
Service charges on deposit accounts: $118.70 million versus the six-analyst average estimate of $117.72 million.
Total other income: $803.17 million versus $611.81 million estimated by six analysts on average.
Net Interest Income (FTE): $1.81 billion versus $1.79 billion estimated by six analysts on average.
Other revenues from operations: $362.02 million compared to the $147.79 million average estimate based on five analysts.
Shares of M&T Bank Corporation have returned +10.3% over the past month versus the Zacks S&P 500 composite's +3.4% 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 Corporation (MTB) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
M&T Bank Corporation (MTB - Free Report) reported $2.6 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 31.2%. EPS of $5.12 for the same period compares to $3.10 a year ago.
The reported revenue represents a surprise of +9.00% over the Zacks Consensus Estimate of $2.39 billion. With the consensus EPS estimate being $4.11, the EPS surprise was +24.57%.
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: 48.9% versus 54.83% estimated by six analysts on average.
- Net Interest margin - Proforma: 3.91% compared to the 3.89% average estimate based on six analysts.
- Average Balance - Total earning assets: $185.94 billion versus $184.41 billion estimated by six analysts on average.
- Net charge-offs to average total net loans: 0.38% compared to the 0.28% average estimate based on four analysts.
- Total Nonperforming Loans: $2.44 billion versus $2.69 billion estimated by two analysts on average.
- Total Nonperforming Assets: $2.48 billion versus $2.74 billion estimated by two analysts on average.
- Trust income: $172.46 million versus $185.70 million estimated by six analysts on average.
- Mortgage banking revenues: $107.11 million versus $92.80 million estimated by six analysts on average.
- Service charges on deposit accounts: $118.70 million versus the six-analyst average estimate of $117.72 million.
- Total other income: $803.17 million versus $611.81 million estimated by six analysts on average.
- Net Interest Income (FTE): $1.81 billion versus $1.79 billion estimated by six analysts on average.
- Other revenues from operations: $362.02 million compared to the $147.79 million average estimate based on five analysts.
View all Key Company Metrics for M&T Bank Corporation here>>>Shares of M&T Bank Corporation have returned +10.3% over the past month versus the Zacks S&P 500 composite's +3.4% 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.