Regional banking company M&T Bank (NYSE: MTB) will be reporting earnings this Wednesday morning. Here’s what to expect.
M&T Bank missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $2.31 billion, up 2.1% year on year. It was a softer quarter for the company, with a miss of analysts’ EPS estimates and a slight miss of analysts’ net interest income estimates.
Is M&T Bank a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting M&T Bank’s revenue to grow 3.4% year on year to $2.38 billion, a reversal from the 11.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.01 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 8 downward revisions over the last 30 days (we track 12 analysts). M&T Bank has missed Wall Street’s revenue estimates twice 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 by 43.5%, posting year-on-year sales declines of 40.1%.
Read our full analysis of FB Financial’s earnings results here.There has been positive sentiment among investors in the banks segment, with share prices up 11.6% on average over the last month. M&T Bank is up 12.6% during the same time and is heading into earnings with an average analyst price target of $213.87 (compared to the current share price of $203.05).
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