Regional banking company M&T Bank (NYSE: MTB) will be reporting results this Friday before market open. Here’s what investors should know.
M&T Bank beat analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $2.50 billion, up 9.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS 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 4.2% year on year to $2.48 billion, in line with the 3.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.47 per share.
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 three times over the last two years.
Looking at M&T Bank’s peers in the banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. United Community Banks posted flat year-on-year revenue, beating analysts’ expectations by 14,738%, and Home Bancshares reported revenues up 7.6%, topping estimates by 2.9%. United Community Banks traded up 900% following the results.
Read our full analysis of United Community Banks’s results here and Home Bancshares’s results here.
Investors in the banks segment have had steady hands going into earnings, with share prices flat over the last month. M&T Bank is up 2.6% during the same time and is heading into earnings with an average analyst price target of $227.70 (compared to the current share price of $209.82).
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