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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
![[Bild: MTBd062892712i.png]](https://finviz.com/publish/042021/MTBd062892712i.png)
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.
...
https://finance.yahoo.com/news/m-t-bank-...01502.html
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