Investing.com - M&T Bank reported on Wednesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
M&T Bank announced earnings per share of $1.08 on revenue of $1.98B. Analysts polled by Investing.com anticipated EPS of $2.44 on revenue of $2.05B.
M&T Bank shares are up 7% from the beginning of the year, still down 11.90% from its 52 week high of $186.95 set on February 10. They are outperforming the S&P 500 which is down 17.4% 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 July 14, who reported EPS of $2.76 on revenue of $30.72B, compared to forecasts EPS of $2.89 on revenue of $31.81B.
Bank of America had missed expectations on Monday with second quarter EPS of $0.73 on revenue of $22.69B, compared to forecast for EPS of $0.7485 on revenue of $22.72B.
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