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M&T Bank (MTB) Reports Q3: Everything You Need To Know Ahead Of Earnings

MTB Cover Image

Regional banking company M&T Bank (NYSE: MTB) will be reporting earnings this Thursday before market open. Here’s what you need to know.

M&T Bank beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $2.40 billion, up 4.1% year on year. It was a slower quarter for the company, with a 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 for active Edge members.

This quarter, analysts are expecting M&T Bank’s revenue to grow 4.4% year on year to $2.43 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $4.39 per share.

M&T Bank Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. 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, some have already reported their Q3 results, giving us a hint as to what we can expect. FB Financial delivered year-on-year revenue growth of 94.2%, beating analysts’ expectations by 4.2%, and Citigroup reported revenues up 9.3%, topping estimates by 4.6%.

Read our full analysis of FB Financial’s results here and Citigroup’s results here.

Investors in the banks segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. M&T Bank is down 4.8% during the same time and is heading into earnings with an average analyst price target of $221.17 (compared to the current share price of $187.04).

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