UPDATE 1-M&T Bank forecasts strong 2024 interest income as rate cut bets ease [Yahoo! Finance]
M&T Bank Corporation (MTB)
Last m&t bank corporation earnings: 4/20 06:37 am
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Source: Yahoo! Finance
April 15 (Reuters) - M&T Bank forecast better-than-expected annual net interest income (NII) on Monday, betting on fewer rate cuts from the Federal Reserve than previously anticipated, sending its shares up 6%. Rate cut hopes have diminished as hotter-than-expected inflation data is likely to nudge the Fed in keeping interest rates higher-for-longer. The bank revised it annual NII - the difference between what a bank earns on loans and pays on deposits - to be more than $6.80 billion, up from $6.70 billion and $6.80 billion earlier, and above analysts' average expectation of $6.77 billion, according to LSEG data. M&T's revised outlook reflects two rate cuts this year, while the previous one had considered three to six rate cuts. Earlier in the day, Buffalo, New York-based M&T Bank reported its NII fell 8% to $1.68 billion in the first quarter from a year earlier. M&T, which has a substantial exposure to commercial real estate (CRE) loans compared to its regional banking pee
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News
- M&T Bank Co. (NYSE: MTB) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
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- M&T Bank Corporation to Participate in the RBC Capital Markets US Banks Fixed Income Investor SymposiumPR Newswire
- M&T Bank First Quarter 2024 Earnings: In Line With Expectations [Yahoo! Finance]Yahoo! Finance
MTB
Earnings
- 4/15/24 - Miss
MTB
Sec Filings
- 4/26/24 - Form 144
- 4/25/24 - Form 144
- 4/24/24 - Form 4
- MTB's page on the SEC website