Regional banking company M&T Bank NYSE:MTB will be reporting earnings this Wednesday before the bell. Here’s what investors should know.
M&T Bank beat analysts’ revenue expectations last quarter, reporting revenues of $2.45 billion, up 5.9% year on year. It was a slower quarter for the company, with a miss of analysts’ tangible book value per share estimates and a slight miss of analysts’ net interest income estimates.
Is M&T Bank a buy or sell going into earnings? .
This quarter, the market is expecting M&T Bank’s revenue to grow 2.9% year on year, in line with the 3.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. M&T Bank has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at M&T Bank’s peers in the banks segment, only FB Financial has reported results so far. It missed analysts’ revenue estimates, delivering year-on-year sales growth of 27.5%. Read our full analysis of .
There has been positive sentiment among investors in the banks segment, with share prices up 4.2% on average over the last month. M&T Bank is up 3.3% during the same time and is heading into earnings with an average analyst price target of $245.69 (compared to the current share price of $233.50).
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