BUFFALO, N.Y., April 14, 2025 /PRNewswire/ -- M&T Bank Corporation ("M&T" or "the Company") reports quarterly net income of $584 million or $3.32 of diluted earnings per common share. (Dollars in millions, except per share data) 1Q25 4Q24 1Q24 Earnings Highlights Net interest income $        1,695 $        1,728 $        1,680 Taxable-equivalent adjustment 12 12 12 Net interest income - taxable-equivalent 1,707 1,740 1,692 Provision for credit losses 130 <td colsp ...

Core Viewpoint - Analysts expect M&T Bank Corporation (MTB) to report quarterly earnings of $3.41 per share, reflecting a year-over-year increase of 10.4%, with revenues projected at $2.34 billion, up 3.7% from the previous year [1]. Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 0.2%, indicating a collective reassessment by analysts [2]. - Revisions to earnings estimates are significant indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [3]. Key Metrics Projections - Analysts project the 'Efficiency Ratio' to be 60.4%, slightly improved from 60.8% reported in the same quarter last year [5]. - The estimated 'Net Interest Margin' is 3.6%, compared to 3.5% a year ago [5]. - The 'Average Balance - Total Earning Assets' is expected to reach $191.62 billion, down from $193.14 billion in the same quarter last year [6]. - 'Tier 1 Leverage' is forecasted at 10.1%, up from 9.5% a year ago, while the 'Tier 1 Capital Ratio' is projected at 13.1%, compared to 12.4% last year [6]. - The 'Total Capital Ratio' is expected to be 14.7%, an increase from 14% reported in the same quarter last year [7]. Income Projections - Analysts forecast 'Total Other Income' to reach $627.91 million, up from $580 million in the same quarter last year [7]. - The consensus for 'Net Interest Income - Taxable-Equivalent' is $1.72 billion, compared to $1.69 billion a year ago [8]. - 'Service Charges on Deposit Accounts' are estimated at $131.87 million, up from $124 million last year [8]. - 'Trust Income' is projected at $177.17 million, compared to $160 million last year [9]. - 'Mortgage Banking Revenues' are expected to reach $113.55 million, up from $104 million in the same quarter last year [9]. - The combined assessment suggests 'Net Interest Income' will likely be $1.71 billion, compared to $1.68 billion last year [10]. Stock Performance - Over the past month, M&T Bank shares have recorded returns of -8.5%, compared to the Zacks S&P 500 composite's -13.5% change, indicating a relatively better performance [10].

Core Viewpoint - M&T Bank Corporation (MTB) is expected to report year-over-year increases in quarterly revenues and earnings for the first quarter of 2025, with results influenced by various factors including loan demand and net interest income [1][13]. Group 1: Financial Performance Expectations - M&T Bank is slated to report first-quarter 2025 results on April 14, with anticipated increases in revenues and earnings compared to the previous year [1]. - The consensus estimate for first-quarter earnings is $3.41 per share, reflecting a 10.4% increase from the year-ago figure, while revenues are expected to reach $2.35 billion, indicating a 4% rise year-over-year [13]. - In the last reported quarter, M&T Bank's results benefited from a rise in loans and leases, non-interest income, and net interest income (NII), although a decline in deposit balance posed challenges [2]. Group 2: Factors Influencing Results - The uncertain macroeconomic environment, particularly due to tariff plans, has led to modest demand for commercial, industrial, real estate, and consumer loans in the first two months of the quarter [4]. - Management anticipates a decline in average loans for the first quarter of 2025, particularly due to a decrease in commercial real estate (CRE) loans, which may impact the growth of average interest-earning assets [5]. - The Federal Reserve's decision to keep interest rates unchanged at 4.25-4.5% is expected to result in only slight improvements in NII, with the consensus estimate for NII at $1.71 billion, a 0.9% decrease from the prior quarter [6]. Group 3: Revenue Components - Management expects lower average total deposits in the first quarter due to seasonal flows and a reduction in non-customer deposits, which may affect service charge revenues [7]. - The consensus estimate for mortgage banking revenue is $113.6 million, indicating a 2.9% decline from the previous quarter, while brokerage services income is expected to decline by 5.3% to $28.4 million [9]. - Trust income is projected to decrease by 1.3% sequentially, with the consensus estimate at $177.2 million [10]. Group 4: Expense Projections - Total expenses for the first quarter of 2025 are projected to rise to $1.39 billion, reflecting a sequential increase of 2.3%, driven by investments in strengthening franchises and seasonal compensation [11]. Group 5: Earnings Prediction Insights - The likelihood of M&T Bank beating earnings estimates is considered low, with an Earnings ESP of -0.73% and a Zacks Rank of 3 [12].

Company Overview - Mazzotta Rentals, Inc. (MRI) is a leading provider of rental equipment solutions in the construction, industrial, and infrastructure sectors across Connecticut, Massachusetts, New York, Rhode Island, Vermont, New Hampshire, and Maine [1][4] - The company is known for its customer-first approach and reliable service, partnering with contractors and businesses to support projects of all sizes [4] Financial Developments - MRI has secured an asset-based loan credit facility with M&T Bank, which includes a $120 million revolving line of credit and a $5 million term loan facility [1] - The facility also features a $35 million accordion option for future growth, refinancing existing debt and supporting the company's expansion efforts [1][2] Strategic Goals - The financing is viewed as a significant step in executing the company's long-term strategic plan, providing flexibility for investments in fleet and infrastructure while maintaining a healthy financial profile [3] - The company aims to expand its service offerings and strengthen its position as an industry leader in equipment rentals, driven by increasing customer demand in general construction and infrastructure development [3]

Core Viewpoint - M&T Bank Corporation is expected to report a year-over-year increase in earnings and revenues for the quarter ended March 2025, with the actual results being crucial for stock price movement [1][3]. Earnings Expectations - The consensus estimate for M&T Bank's quarterly earnings is $3.41 per share, reflecting a +10.4% change year-over-year, while revenues are anticipated to be $2.35 billion, up 4% from the previous year [3]. - The earnings report is scheduled for April 14, and stock movement may depend on whether the actual results exceed or fall short of these expectations [2]. Estimate Revisions - Over the last 30 days, the consensus EPS estimate has been revised down by 0.11%, indicating a slight bearish sentiment among analysts regarding the company's earnings prospects [4][10]. - The Most Accurate Estimate for M&T Bank is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.73%, which complicates the prediction of an earnings beat [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, with positive readings being more predictive of earnings beats [6][7]. - Stocks with a positive Earnings ESP and a Zacks Rank of 1, 2, or 3 have historically shown a nearly 70% chance of delivering a positive surprise [8]. Historical Performance - M&T Bank has beaten consensus EPS estimates in three out of the last four quarters, with a notable surprise of +5.95% in the last reported quarter [12][13]. Industry Comparison - The Bank of New York Mellon Corporation, another player in the banking sector, is expected to report earnings of $1.49 per share, indicating a +15.5% year-over-year change, with revenues projected at $4.73 billion, up 4.5% [17]. - The Bank of New York Mellon has a positive Earnings ESP of 0.01% and has consistently beaten consensus EPS estimates in the past four quarters [18].

Core Insights - M&T Bank's Charitable Foundation has announced $4.9 million in grants to 51 nonprofit organizations, concluding its three-year, $25 million Amplify Fund commitment aimed at addressing inequities in low- and moderate-income communities [1][5] - The Amplify Fund was initially announced in May 2022 as part of the merger between People's United Bank and M&T Bank, focusing on providing supplemental charitable support to legacy communities [2] - Over the course of the Amplify Fund program, a total of $25 million has been awarded to 224 nonprofit organizations, emphasizing collaboration to drive meaningful change and advance equity [5] Funding Details - The third round of funding specifically targets organizations that promote financial inclusion and economic growth, with a focus on homeownership, small business development, and financial resilience [4] - Previous rounds of the Amplify Fund distributed more than $20.1 million to 173 nonprofit organizations, supporting initiatives in environmental work, community organizing, and financial empowerment [3] Organizational Impact - The M&T Charitable Foundation aims to empower nonprofits to create lasting change in their communities, as highlighted by statements from grantees expressing gratitude for the support [7] - The foundation awards nearly $40 million annually to various nonprofit organizations, reinforcing its commitment to improving quality of life in the regions served by M&T Bank [8]

Core Insights - M&T Bank has appointed Charles Pinckney as the Regional President for both Albany and Hudson Valley regions to enhance community presence and customer service [1][2] - Pinckney succeeds Mark Stellwag, who is set to retire at the end of 2024 [1] Company Leadership and Community Engagement - Charles Pinckney has a strong background in various leadership roles within M&T Bank since joining in 2008, focusing on commercial real estate, middle market, healthcare, and not-for-profit sectors [3] - Pinckney is actively involved in community service, holding positions such as Vice Chair of the Center for Disability Services and board member of the Capital Region Chamber and the Center for Economic Growth [3] - M&T Bank emphasizes a community-based business model, ensuring local decision-making for community activities, grants, and lending [4] Regional Presence - M&T Bank operates a network of 40 branches across 20 counties in Albany and the Hudson Valley, reinforcing its commitment to local engagement [4] - The bank's leadership aims to continue fostering economic growth and supporting local businesses in the Hudson Valley region [3][4]

Core Points - M&T Bank Corporation plans to announce its first quarter 2025 earnings results on April 14, 2025, before the market opens [1] - A conference call and webcast will follow the earnings release at 8:00 a.m. (ET) to discuss the results [1] - The conference call will be accessible to both domestic and international callers [2] Company Overview - M&T Bank Corporation is a financial holding company based in Buffalo, New York, with a banking network across the eastern U.S. [4] - The principal banking subsidiary, M&T Bank, offers a range of banking products and services [4] - Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and M&T Bank in select markets [4]

Core Insights - M&T Bank has appointed Carmen Magistro as the Northern Pennsylvania Regional President, expanding his role to enhance the bank's community presence and customer service [1][2] - Magistro has over 22 years of experience in the financial services industry, with a focus on commercial banking, and has been with M&T Bank since 2009 [3] Company Overview - M&T Bank Corporation is headquartered in Buffalo, New York, and operates a branch and ATM network across the eastern U.S., from Maine to Virginia and Washington, D.C. [5] - The bank has a strong presence in Northern Pennsylvania, with 34 branches and over 45 ATMs serving various communities [4] Leadership and Community Engagement - Magistro will collaborate with the Community Bank leadership team while overseeing commercial banking operations, succeeding Phil Johnson who is retiring at the end of 2024 [2] - His commitment to local communities is highlighted by his involvement with organizations such as the Greater Wilkes Barre Chamber of Commerce and United Way of Wyoming Valley [3]

Core Insights - M&T Bank's Chairman and CEO René Jones emphasizes the importance of managing liquidity, prudent capital allocation, and transparency as fundamental principles for the bank's growth and customer service [1] - The bank remains focused on these fundamentals as a guiding force in an evolving industry, recognizing the interconnectedness of banks, credit unions, insurance firms, and private credit providers [1] - Jones expresses appreciation for M&T Bank's employees, highlighting their role in fostering a positive environment for both staff and customers, which is essential for future growth [1] Company Performance - M&T Bank reported strong financial results in 2024, outperforming peer banks [3] - The bank's operating model and persistent approach are credited for its success, with ongoing investments in strategic initiatives aimed at future growth [3] Industry Context - The letter discusses the impact of bank stress tests on the growth of private credit firms, which may create unintended systemic risks [3] - A recommendation is made for the Federal Reserve to introduce new tools that provide liquidity to markets beyond its current scope [3]