M&T Bank Q2 Profit Jumps 15% to $781M, EPS Beats at $5.32
MTB sits 39% above its 52-week low of $174.76.
Summary
M&T Bank reported Q2 net income of $781 million, up 15% from $679 million a year ago, with EPS of $5.32 versus $4.24. Revenue rose 4.6% to $1.792 billion. The profit was lifted by interest income growth. This follows a strong Q1 that included a new $5 billion buyback authorization. The stock is trading near its 52-week high, and these results reinforce the upward earnings trend. No forward guidance was provided in this release.
At the time of this announcement, MTB was trading at $242.55 on NYSE in the Finance sector, with a market capitalization of approximately $35.4B. The 52-week trading range was $174.76 to $246.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.