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M&T Bank Corporation - MTB STOCK NEWS

Welcome to our dedicated page for M&T Bank Corporation news (Ticker: MTB), a resource for investors and traders seeking the latest updates and insights on M&T Bank Corporation stock.

M&T Bank Corporation (NYSE: MTB) is one of the 20 largest commercial bank holding companies in the United States, serving over two million consumer households and commercial clients through more than 700 branches and with a workforce of over 15,000 employees. Founded over 150 years ago in Buffalo, N.Y., M&T Bank is known for its strong regional presence and commitment to community banking.

M&T Bank offers a comprehensive range of financial services including commercial and consumer banking, lending, and wealth management. The bank's principal subsidiary, M&T Bank, operates across 12 states from Maine to Virginia and Washington, D.C., focusing on commercial real estate, commercial-related lending, and retail operations. Through its affiliate, Wilmington Trust, M&T also provides premier wealth management and corporate trust solutions.

In recent financial announcements, M&T Bank reported a quarterly net income of $531 million for Q1 2024, reflecting solid earnings growth and prudent expense management. The company has demonstrated strong liquidity and capital positions, maintaining stability in its deposit base and increasing levels of borrowings. Additionally, M&T has been actively involved in managing its commercial real estate exposure while continuing to grow its commercial and consumer loan portfolios.

Key recent achievements include M&T Realty Capital Corporation's record 2023 production volume for the Seniors Housing Team, with significant financing of $575 million in closed loans. Moreover, M&T successfully refinanced a 371-unit seniors housing and healthcare facility with a $105 million Freddie Mac loan. The company continues to focus on strategic growth and maintaining strong customer relationships.

On the technological front, M&T has made advancements in its internal profitability reporting to align with organizational changes and enhance its management reporting system. This realignment into three reportable segments—Commercial Bank, Retail Bank, and Institutional Services and Wealth Management—aims to provide better insights and operational efficiency.

M&T Bank is committed to building and maintaining public trust through prudent lending and support for civic institutions. The company emphasizes the importance of trust in its operations, which is evident in its longstanding tradition of providing transparent and insightful communication to shareholders.

For more information, visit the company's website or follow their latest updates and announcements on their Investor Relations page.

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M&T Bank (NYSE:MTB) reported Q2 2024 net income of $655 million, or $3.73 diluted earnings per share, up from $531 million or $3.02 per share in Q1 2024. Key highlights include:

- Net interest income rose to $1.718 billion from $1.680 billion in Q1
- Net interest margin improved to 3.59% from 3.52% in Q1
- CET1 capital ratio increased to an estimated 11.44%, up 36 basis points from Q1
- Average loans and leases grew by $792 million from Q1
- Provision for credit losses decreased to $150 million from $200 million in Q1

The results reflect loan growth, improved credit metrics, and a strong capital position. M&T's stress capital buffer is estimated to decrease to 3.8% effective October 1, 2024.

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M&T Bank (NYSE:MTB) has announced quarterly cash dividends for its perpetual preferred stock. For its Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H, the dividend is set at $0.3515625 per share, payable on September 16, 2024, to shareholders of record as of September 3, 2024.

Additionally, the bank declared a dividend of $254.17 per share (equivalent to $0.635425 per depositary share) on its Perpetual 7.500% Non-Cumulative Preferred Stock, Series J, also payable on September 16, 2024, to shareholders of record at the close of business on September 3, 2024.

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M&T Bank (NYSE: MTB) has announced that the Federal Reserve Board has determined its preliminary stress capital buffer (SCB) requirement to be 3.8%, down from the previous 4.0%. The final SCB requirement will be provided by the Federal Reserve Board on or before August 31, 2024, and will take effect on October 1, 2024.

This adjustment lowers the company's regulatory minimum Common Equity Tier 1 (CET1) ratio to 8.3% from 8.5%. M&T Bank expects its second quarter 2024 CET1 ratio to exceed 11.35%.

Chief Financial Officer Daryl Bible emphasized that the stress test results highlight the bank's strong earnings and capital position, which support both organic growth and shareholder returns. Additionally, on May 21, 2024, M&T's board announced a quarterly cash dividend increase to $1.35 per share, payable on June 28, 2024.

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M&T Bank (NYSE:MTB) will release its second quarter 2024 earnings results on Thursday, July 18, 2024, before the market opens. Following the release, a conference call and webcast will be held at 8:00 a.m. ET to discuss the results. Investors and analysts can access the conference call and webcast through M&T's official website. The announcement is expected to provide insights into M&T's financial performance, including earnings per share (EPS), revenue figures, and guidance for future quarters. The discussion will likely cover key business developments and strategic initiatives affecting the company and its shareholders.

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Blackstone Mortgage Trust (NYSE: BXMT) and M&T Realty Capital announced a partnership to provide BXMT borrowers with access to multifamily agency financing. This collaboration will leverage M&T Realty Capital's Fannie Mae DUS® and Freddie Mac Optigo® lending platforms to offer conventional and affordable multifamily loans. The partnership aims to expand BXMT's loan offerings, providing comprehensive financing solutions to its borrowers. Katie Keenan, CEO of Blackstone Mortgage Trust, highlighted that BXMT has originated over $12 billion in multifamily bridge loans over the past decade. Michael Edelman, CEO of M&T Realty Capital, emphasized the partnership's alignment with their strategy to expand their customer base and national multifamily lending platform.

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M&T Bank (NYSE: MTB) has announced its schedule for quarterly earnings conference calls for 2025. The dates are as follows: First quarter - April 14, 2025; Second quarter - July 21, 2025; Third quarter - October 22, 2025; Fourth quarter - January 21, 2026. Each call will take place at 8:00 a.m. (ET). M&T will issue detailed announcements before each quarter’s close to confirm the specific date and time for the earnings release and conference call.

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M&T Bank (NYSE:MTB) is set to participate in the Morgan Stanley US Financials, Payments & CRE Conference, which will be held in New York City. M&T representatives will deliver a presentation to investors and analysts on June 12, 2024, at 9:30 a.m. ET. A webcast of the presentation will be available, potentially containing material information about the company.

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M&T Bank has announced a quarterly cash dividend of $1.35 per share on its common stock, reflecting a 4% increase from the previous dividend of $1.30 per share. The dividend will be payable on June 28, 2024, to shareholders of record as of June 3, 2024.

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M&T Bank released its 2023 Sustainability Report, highlighting progress in environmental and social finance solutions. The report showcases $3.1 billion in financing for positive impacts, with investments in social and environmental initiatives. Key achievements include supporting affordable housing, essential services, financial empowerment, renewable energy, green buildings, and community development. M&T also emphasized diversity, inclusion, and employee development, showcasing its commitment to community support and sustainability.

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M&T Bank , ticker symbol MTB, will participate in the Barclays Americas Select Franchise Conference in London. The presentation to investors and analysts is scheduled for May 8, 2024. A webcast will be available for those interested.

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FAQ

What services does M&T Bank Corporation provide?

M&T Bank offers commercial and consumer banking, lending, and wealth management services through its principal banking subsidiary and its affiliate, Wilmington Trust.

Where is M&T Bank Corporation headquartered?

M&T Bank Corporation is headquartered in Buffalo, New York.

How many branches does M&T Bank operate?

M&T Bank operates over 700 branches across 12 states from Maine to Virginia and Washington, D.C.

What recent financial achievements has M&T Bank reported?

M&T Bank reported a quarterly net income of $531 million for Q1 2024 and demonstrated solid liquidity and capital positions.

What is M&T Realty Capital Corporation's role within M&T Bank?

M&T Realty Capital Corporation is a wholly-owned subsidiary specializing in providing competitive financing for multifamily properties, commercial income properties, and healthcare facilities.

How does M&T Bank emphasize trust in its operations?

M&T Bank focuses on prudent lending and supporting civic institutions to build and maintain public trust, as highlighted in the CEO's annual letter to shareholders.

What strategic changes has M&T Bank recently implemented?

M&T Bank has realigned its business operations into three reportable segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.

Does M&T Bank offer wealth management services?

Yes, through its affiliate Wilmington Trust, M&T Bank provides premier wealth management and corporate trust solutions.

What is M&T Bank's approach to community banking?

M&T Bank is committed to serving its communities by providing essential banking services and maintaining strong regional relationships.

Where can I find more information about M&T Bank's latest updates?

For the latest updates, visit M&T Bank's website or their Investor Relations page at https://ir.mtb.com/events-presentations.

M&T Bank Corporation

NYSE:MTB

MTB Rankings

MTB Stock Data

27.57B
166.85M
0.45%
85.89%
2.01%
Commercial Banking
Finance and Insurance
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United States of America
BUFFALO