M&T Bank Analysts Boost Their Forecasts Following Upbeat Earnings
M&T Bank Analysts Boost Their Forecasts Following Upbeat Earnings
M&T Bank Corporation (NYSE:MTB) reported better-than-expected second-quarter financial results on Thursday.
週四，M&T銀行公司（紐交所：MTB）報告了比預期好的第二季度財務業績。
M&T Bank reported quarterly earnings of $3.79 per share which beat the analyst consensus estimate of $3.50 per share. Quarterly sales came in at $2.302 billion topping expectations of $2.277 billion, according to data from Benzinga Pro.
M&T銀行報告了每股3.79美元的季度收益，超過了分析師共識預期的3.50美元每股。根據Benzinga Pro的數據，季度銷售額爲230.2億美元，超過了227.7億美元的預期。
"Building on a strong start to the year, the second quarter results reflect a 24% increase in diluted earnings per common share from the first quarter. We continued to grow our commercial and industrial and consumer loan portfolios, while lessening our commercial real estate exposure. Credit metrics improved as both nonaccrual and total criticized loans declined sequentially. Liquidity and capital positions are exceptional, and we are pleased with the reduction in our stress capital buffer that becomes effective later this year. Our team continues to diligently deploy resources while controlling expense growth. We are grateful for our employees' commitment to our customers and communities which was again on full display in the first half of 2024 through various community events and volunteer engagements throughout our footprint," Daryl N. Bible, M&T's Chief Financial Officer said.
M&T的首席財務官 Daryl N. Bible 表示：“在今年的強勁開局的基礎上，第二季度的業績表現反映出每股普通股攤薄收益比第一季度增長了24%。我們繼續擴大商業和工業及消費者貸款組合，同時減少我們在商業房地產上的敞口。信貸指標得到改善，隨着非應計和總體批評貸款環比下降。流動性和資本狀況仍然非常好，我們對於今年晚些時候生效的壓力資本緩衝減少表示滿意。我們的團隊繼續努力調配資源，同時控制費用增長。我們感謝我們的員工緻力於爲我們的客戶和社區服務，在2024年上半年通過各種社區活動和志願服務展現出來。”
M&T Bank shares fell 0.5% to trade at $166.51 on Friday.
週五，M&T銀行股價下跌0.5%，報收166.51美元。
These analysts made changes to their price targets on M&T Bank following the announcement.
這些分析師在公告後對MTB股票的目標價進行了調整。
- Keefe, Bruyette & Woods analyst David Konrad maintained M&T Bank with a Market Perform rating, while increasing the price target from $170 to $180.
- DA Davidson analyst Peter Winter maintained the stock with a Neutral rating and boosted the price target from $159 to $185.
- RBC Capital analyst Gerard Cassidy maintained M&T Bank with an Outperform rating and raised the price target from $160 to $174.
- Keefe，Bruyette＆Woods公司的分析師David Konrad 維持市場表現評級，將目標價從170美元升至180美元。
- DA Davidson公司的分析師Peter Winter 維持中立評級，將目標價從159美元升至185美元。
- RBC Capital公司的分析師Gerard Cassidy 維持跑贏大盤評級，將目標價從160美元升至174美元。
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