M&T Bank Corporation (NYSE:MTB) commercial and retail banking services provider, is expected to report third quarter earnings results, before market open, on Thursday 22nd October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 2.60 per share.
Looking ahead, the full year income are expected at $ 8.93 per share on the revenues of $ 5876.42 million.
Previous Quarter Performance
M&T Bank Corporation recorded income for the second quarter of $ 1.76 per share, from the revenue of $ 1,444.00 million. The quarterly earnings shrunk 47.31 percent while revenues declined 7.05 percent compared with the same quarter last year.
Wall street analysts are predicting, MTB to report 2Q20 income of $ 1.65 per share from revenue of $ 1471.33 million. The bottom line results beat street analysts by $ 0.11 or 6.67 percent, at the same time, top line results fell short of analysts by $ 27.33 million or 1.86 percent.
Stock Performance
Shares of M&T Bank Corporation traded up $ 0.32 or 0.32 percent on Wednesday, reaching $ 99.74 with volume of 490.50 thousand shares. The stock opened down for the day at $ 99.18, after closing the previous day trading at $ 99.42.
According to the previous trading day, closing price of $ 99.42, representing a 16.84 % increase from the 52 week low of $ 85.09 and a 42.86 % decrease over the 52 week high of $ 174.00.
The company has a market capital of $ 12.79 billion and is part of the Financial Services sector and Banks – Regional – US industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 1.10 per share on August 18, 2020. The dividend were payable on September 30, 2020 to holders of record as of the close of business on September 1, 2020 and ex-dividend date on August 31, 2020.
Conference Call
M&T Bank Corporation will be hosting a conference call at 11:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.mtb.com
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The companys Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals. Its Commercial Banking segment provides credit and banking services for middle-market and large commercial customers.
