M&T Bank Beats Q3 Estimates With $5.04 EPS, Revenue Up 0.9%
MTB sits 27% above its 52-week low of $174.76.
Summary
M&T Bank reported Q3 adjusted EPS of $5.04, beating the $4.96 consensus and up from $4.82 a year ago. Revenue rose 0.9% to $2.54 billion, roughly in line with the $2.53 billion expected, and net income came in at $732 million. The beat extends a run of four straight quarters topping estimates, though the $5.04 figure is a step down from Q2's $5.32. Note the EPS figure conflicts with an earlier wire report of $5.08 for the same quarter, so the exact print is worth confirming. The stock is up 8.5% year to date and sits about 12.5% below the $250 median analyst price target.
At the time of this announcement, MTB was trading at $221.49 on NYSE in the Finance sector, with a market capitalization of approximately $32B. The 52-week trading range was $174.76 to $255.95. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.