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Compared to Estimates, M&T Bank (MTB) Q2 Earnings: A Look at Key Metrics
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M&T Bank Corporation (MTB - Free Report) reported $2.3 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 11.5%. EPS of $3.79 for the same period compares to $5.12 a year ago.
The reported revenue represents a surprise of +1.49% over the Zacks Consensus Estimate of $2.27 billion. With the consensus EPS estimate being $3.50, the EPS surprise was +8.29%.
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.
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: 55.3% versus the seven-analyst average estimate of 57.1%.
Average Balance - Total earning assets: $193.68 billion versus the seven-analyst average estimate of $193.57 billion.
Net Interest margin - Proforma: 3.6% compared to the 3.5% average estimate based on seven analysts.
Net charge-offs to average total net loans: 0.4% versus the five-analyst average estimate of 0.4%.
Total Nonperforming Assets: $2.06 billion compared to the $2.36 billion average estimate based on three analysts.
Nonaccrual loans: $2.02 billion compared to the $2.36 billion average estimate based on three analysts.
Total Capital Ratio: 14.9% versus 14.4% estimated by two analysts on average.
Tier 1 Capital Ratio: 13.2% versus the two-analyst average estimate of 12.7%.
Trust income: $170 million compared to the $166.10 million average estimate based on seven analysts.
Mortgage banking revenues: $106 million compared to the $107.45 million average estimate based on seven analysts.
Service charges on deposit accounts: $127 million compared to the $124.42 million average estimate based on seven analysts.
Total other income: $584 million versus the seven-analyst average estimate of $579.87 million.
Shares of M&T Bank have returned +12.1% over the past month versus the Zacks S&P 500 composite's +2.1% 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) Q2 Earnings: A Look at Key Metrics
M&T Bank Corporation (MTB - Free Report) reported $2.3 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 11.5%. EPS of $3.79 for the same period compares to $5.12 a year ago.
The reported revenue represents a surprise of +1.49% over the Zacks Consensus Estimate of $2.27 billion. With the consensus EPS estimate being $3.50, the EPS surprise was +8.29%.
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.
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: 55.3% versus the seven-analyst average estimate of 57.1%.
- Average Balance - Total earning assets: $193.68 billion versus the seven-analyst average estimate of $193.57 billion.
- Net Interest margin - Proforma: 3.6% compared to the 3.5% average estimate based on seven analysts.
- Net charge-offs to average total net loans: 0.4% versus the five-analyst average estimate of 0.4%.
- Total Nonperforming Assets: $2.06 billion compared to the $2.36 billion average estimate based on three analysts.
- Nonaccrual loans: $2.02 billion compared to the $2.36 billion average estimate based on three analysts.
- Total Capital Ratio: 14.9% versus 14.4% estimated by two analysts on average.
- Tier 1 Capital Ratio: 13.2% versus the two-analyst average estimate of 12.7%.
- Trust income: $170 million compared to the $166.10 million average estimate based on seven analysts.
- Mortgage banking revenues: $106 million compared to the $107.45 million average estimate based on seven analysts.
- Service charges on deposit accounts: $127 million compared to the $124.42 million average estimate based on seven analysts.
- Total other income: $584 million versus the seven-analyst average estimate of $579.87 million.
View all Key Company Metrics for M&T Bank here>>>Shares of M&T Bank have returned +12.1% over the past month versus the Zacks S&P 500 composite's +2.1% 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.