M&T Bank’s Q4 earnings show solid revenue growth and positive surprises in key metrics
Buffalo: For the last quarter of 2024, M&T Bank Corporation reported a revenue of $2.39 billion, which is a 3.7% increase from last year. Their earnings per share (EPS) hit $3.92, up from $2.81 a year ago.
This revenue was better than what analysts expected, which was $2.33 billion, giving a nice surprise of 2.22%. The EPS also beat expectations by 5.95%, as the consensus was $3.70.
Investors are always looking at how revenue and earnings change over time and how they stack up against Wall Street’s predictions. Some key metrics can really help paint a clearer picture of a company’s financial health.
These metrics are crucial for understanding how well the company is doing. By comparing them to last year’s numbers and analyst estimates, investors can get a better idea of how the stock might perform.
So, how did M&T Bank do in the latest quarter? Here are some important metrics that analysts keep an eye on:
- Efficiency Ratio: 56.8%, slightly above the 56.5% average estimate.
- Net Interest Margin: 3.6%, matching the average estimate.
- Average Balance of Total Earning Assets: $193.11 billion, beating the $192.48 billion estimate.
- Net Charge-Offs to Average Total Net Loans: 0.5%, higher than the 0.4% estimate.
- Tier 1 Capital Ratio: 13.2%, right on target with the estimate.
- Total Capital Ratio: 14.7%, slightly below the 15% estimate.
- Trust Income: $175 million, just above the $174.01 million estimate.
- Mortgage Banking Revenues: $117 million, exceeding the $108.05 million estimate.
- Service Charges on Deposit Accounts: $131 million, a bit below the $132.29 million estimate.
- Total Other Income: $657 million, surpassing the $604.01 million estimate.
- Net Interest Income – Taxable-Equivalent: $1.74 billion, matching the estimate.
- Net Interest Income: $1.73 billion, right in line with the estimate.
In the past month, M&T Bank shares have gone up by 7.9%, while the S&P 500 has dipped by 1.6%. Currently, the stock holds a Zacks Rank #3 (Hold), suggesting it might perform similarly to the broader market soon.
