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Financial | Regional - Northeast Banks | USA
M&T Bank's First-Quarter Earnings Top Wall Street Estimates

M&T Bank tops earnings estimates by 5 cents a share in its first quarter.

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The bank reported first-quarter earnings of $3.35 per share, topping analysts' estimates by a nickel. Meanwhile, revenue of $1.045 billion was just short of Wall Street's estimates of $1.048 billion.

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https://www.thestreet.com/investing/earn...yptr=yahoo

M&T Bank (MTB) Q1 Earnings Beat on Recapture of Provisions


M&T Bank Corporation MTB reported first-quarter 2021 positive earnings surprise of 15%. Net operating earnings per share of $3.41 beat the Zacks Consensus Estimate of $2.96. Also, the bottom line compared favorably with the $1.95 per share reported in the year-ago quarter.

Fall in revenues on lower non-interest income, despite solid mortgage banking revenues, along with rise in expenses were key undermining factors. However, rise in loan and deposit balances highlights a solid capital position. Further, recapture of provisions was a tailwind.

Net income (on GAAP basis) in the quarter was $447.2 million or $3.33 per share compared with the $268.8 million or $1.93 per share recorded in the prior year.


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https://finance.yahoo.com/news/m-t-bank-...01502.html