Investing.com - M&T Bank reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
M&T Bank announced earnings per share of $2.73 on revenue of $1.45B. Analysts polled by Investing.com anticipated EPS of $2.39 on revenue of $1.48B.
M&T Bank shares are up 5% from the beginning of the year, still down 13.32% from its 52 week high of $186.95 set on February 10. They are outperforming the S&P 500 which is down 6.38% from the start of the year.
M&T Bank follows other major Financial sector earnings this month
M&T Bank's report follows an earnings missed by JPMorgan on April 13, who reported EPS of $2.63 on revenue of $30.72B, compared to forecasts EPS of $2.69 on revenue of $30,856M.
Bank of America had beat expectations on Monday with first quarter EPS of $0.8 on revenue of $23.23B, compared to forecast for EPS of $0.7492 on revenue of $23.18B.
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