Investing.com - M&T Bank (NYSE:MTB) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
M&T Bank announced earnings per share of $1.95 on revenue of $1.51B. Analysts polled by Investing.com anticipated EPS of $1.92 on revenue of $1.48B. That with comparison to EPS of $3.35 on revenue of $1.55B in the same period a year before. M&T Bank had reported EPS of $3.62 on revenue of $1.53B in the previous quarter. Analysts are expecting EPS of $2.07 and revenue of $1.46B in the upcoming quarter.
M&T Bank shares are down 37% from the beginning of the year , still down 39.70% from its 52 week high of $174.93 set on July 5, 2019. They are under-performing the S&P 500 which is down 11.41% year to date.
M&T Bank follows other major Financial sector earnings this month
M&T Bank's report follows an earnings missed by JPMorgan on April 14, who reported EPS of $0.78 on revenue of $29.07B, compared to forecasts EPS of $1.87 on revenue of $29.54B.
UnitedHealth had beat expectations on Wednesday with first quarter EPS of $3.72 on revenue of $64.42B, compared to forecast for EPS of $3.63 on revenue of $64.16B.
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