M and T Bank Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component M&T Bank Corp (NYSE:MTB) will unveil its latest earnings on Monday, July 18, 2011. M&T Bank Corp. offers commercial and retail banking services, including loans and deposits, mortgage banking, trust, asset management, insurance and other financial services.

M&T Bank Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.53 per share, no change from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.49. Between one and three months ago, the average estimate moved up, but has dropped from $1.56 during the last month. For the year, analysts are projecting profit of $6.34 per share, a rise of 8.6% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 26 cents, reporting net income of $1.67 per share against a mean estimate of profit of $1.41 per share.

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Wall St. Revenue Expectations: On average, analysts predict $908.7 million in revenue this quarter, a rise of 8.1% from the year ago quarter. Analysts are forecasting total revenue of $3.86 billion for the year, a rise of 14.2% from last year’s revenue of $3.38 billion.

Analyst Ratings: Analysts seem relatively indifferent about M&T Bank with 15 of 21 analysts surveyed maintaining a hold rating.

Key Stats:

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 36.6% while it rose 19.7% in the fourth quarter of the last fiscal year and 68.6% in the third quarter of the last fiscal year.

The company’s revenue has now risen for two straight quarters. In first quarter, revenue increased 3.9% to $997.9 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure rose 0.4%.

Competitors to Watch: Wilmington Trust Corp. (NYSE:WL), The Bancorp, Inc. (NASDAQ:TBBK), Susquehanna Bancshares, Inc. (NASDAQ:SUSQ), Shore Bancshares, Inc. (NASDAQ:SHBI), Wells Fargo & Company (NYSE:WFC), Bank of America Corp. (NYSE:BAC), PNC Financial Services (NYSE:PNC), Univest Corp. of PA (NASDAQ:UVSP), First Community Bancshares, Inc. (NASDAQ:FCBC), and Evans Bancorp Inc. (NASDAQ:EVBN).

Stock Price Performance: During April 14, 2011 to July 12, 2011, the stock price had risen $2.94 (3.5%) from $84.51 to $87.45. The stock price saw one of its best stretches over the last year between August 20, 2010, and August 26, 2010, when shares rose for five-straight days, rising 3.6% (+$3.01) over that span. Shares have been on a negative streak of late, closing down every day between July 11, 2011 and July 12, 2011. Shares are up $1.78 (+2.1%) year to date.

(Source: Xignite Financials)

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