M&T Bank Q1 EPS $4.18 Beats, Revenue $2.44B, $1.25B Share Buyback
M&T Bank reported adjusted EPS of $4.18, topping consensus of $4.01, and delivered GAAP EPS of $4.13 on $2.44 billion revenue versus $2.43 billion expected. It repurchased $1.25 billion of stock, cut its CET1 ratio to 10.33% from 10.84%, and expanded net interest margin to 3.71% from 3.66%.
1. First-Quarter Financial Results
M&T Bank delivered adjusted earnings per share of $4.18, surpassing the $4.01 analyst consensus, and recorded GAAP EPS of $4.13 alongside revenue of $2.44 billion, marginally above the $2.43 billion forecast. Net income rose 14% year over year to $664 million.
2. Capital Return and Regulatory Ratios
During the quarter, the bank executed a $1.25 billion share repurchase, buying back 5.5 million shares under its capital plan. As a result, its Common Equity Tier 1 ratio declined to an estimated 10.33% from 10.84% in the prior quarter.
3. Margin, Loan Growth and Credit Costs
Net interest margin expanded to 3.71% from 3.66% as funding costs fell faster than asset yields. Average loans rose 1% sequentially to $138.4 billion (3% year over year), while provisions for credit losses increased to $140 million from $125 million in the prior quarter.