M&T Bank Q2 net interest income slightly beats on loan growth
MTB•Key financial details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Adjusted EPS | Beat | $5.35 | $4.66 (18 Analysts) |
| Q2 EPS | $5.32 | ||
| Q2 Net Income | $818 mln | ||
| Q2 Net Interest Income | Slight Beat* | $1.79 bln | $1.78 bln (9 Analysts) |
| Q2 CET1 Capital Ratio | 10.19% | ||
| Q2 Net Interest Margin | 3.70% | ||
| Q2 Provision for Credit Loss | $120 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst coverage and outlook
- The company did not provide specific guidance for the current quarter or full year in the press release
- The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"
- The average consensus recommendation for the banks peer group is "buy."
- Wall Street's median 12-month price target for M&T Bank Corp is $242.00, about 0.1% below its July 14 closing price of $241.85
- The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago
Quarterly results and main drivers
- US regional bank's Q2 adjusted EPS beat analyst expectations
