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Compared to Estimates, M&T Bank Corporation (MTB) Q4 Earnings: A Look at Key Metrics
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For the quarter ended December 2023, M&T Bank Corporation (MTB - Free Report) reported revenue of $2.3 billion, down 8.3% over the same period last year. EPS came in at $2.81, compared to $4.57 in the year-ago quarter.
The reported revenue represents a surprise of +1.14% over the Zacks Consensus Estimate of $2.27 billion. With the consensus EPS estimate being $3.67, the EPS surprise was -23.43%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 62.1% versus the seven-analyst average estimate of 57.7%.
Average Balance - Total earning assets: $190.54 billion versus the seven-analyst average estimate of $191.25 billion.
Net Interest margin - Proforma: 3.6% versus the seven-analyst average estimate of 3.6%.
Net charge-offs to average total net loans: 0.4% versus the five-analyst average estimate of 0.4%.
Total Nonperforming Assets: $2.21 billion versus the three-analyst average estimate of $2.41 billion.
Nonaccrual loans: $2.17 billion compared to the $2.49 billion average estimate based on three analysts.
Total Capital Ratio: 14% compared to the 14% average estimate based on two analysts.
Tier 1 Capital Ratio: 12.3% versus 12.2% estimated by two analysts on average.
Total other income: $578 million versus $557.50 million estimated by seven analysts on average.
Mortgage banking revenues: $112 million versus the seven-analyst average estimate of $98.02 million.
Service charges on deposit accounts: $121 million versus the seven-analyst average estimate of $118.84 million.
Trust income: $159 million versus $155.20 million estimated by seven analysts on average.
Shares of M&T Bank Corporation have returned -2.2% over the past month versus the Zacks S&P 500 composite's +0.6% 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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Compared to Estimates, M&T Bank Corporation (MTB) Q4 Earnings: A Look at Key Metrics
For the quarter ended December 2023, M&T Bank Corporation (MTB - Free Report) reported revenue of $2.3 billion, down 8.3% over the same period last year. EPS came in at $2.81, compared to $4.57 in the year-ago quarter.
The reported revenue represents a surprise of +1.14% over the Zacks Consensus Estimate of $2.27 billion. With the consensus EPS estimate being $3.67, the EPS surprise was -23.43%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: 62.1% versus the seven-analyst average estimate of 57.7%.
- Average Balance - Total earning assets: $190.54 billion versus the seven-analyst average estimate of $191.25 billion.
- Net Interest margin - Proforma: 3.6% versus the seven-analyst average estimate of 3.6%.
- Net charge-offs to average total net loans: 0.4% versus the five-analyst average estimate of 0.4%.
- Total Nonperforming Assets: $2.21 billion versus the three-analyst average estimate of $2.41 billion.
- Nonaccrual loans: $2.17 billion compared to the $2.49 billion average estimate based on three analysts.
- Total Capital Ratio: 14% compared to the 14% average estimate based on two analysts.
- Tier 1 Capital Ratio: 12.3% versus 12.2% estimated by two analysts on average.
- Total other income: $578 million versus $557.50 million estimated by seven analysts on average.
- Mortgage banking revenues: $112 million versus the seven-analyst average estimate of $98.02 million.
- Service charges on deposit accounts: $121 million versus the seven-analyst average estimate of $118.84 million.
- Trust income: $159 million versus $155.20 million estimated by seven analysts on average.
View all Key Company Metrics for M&T Bank Corporation here>>>Shares of M&T Bank Corporation have returned -2.2% over the past month versus the Zacks S&P 500 composite's +0.6% 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.