M&T Bank US Stock Price, News & Analysis

M&T Bank (NYSE: MTB) has appointed Lopa Kolluri as Head of Affordable Housing Lending, a new role within its Commercial Bank. Kolluri will oversee the development and management of the Affordable Housing vertical, executing business strategy and establishing operational processes. She aims to strengthen existing relationships and establish new regional and national customers.

Kolluri brings over 25 years of experience in affordable housing and community development. Previously, she served as Senior Vice President in M&T's Commercial Real Estate Innovation Office and held a leadership position at the U.S. Department of Housing and Urban Development, overseeing $1.2 trillion in insured mortgages.

This appointment reinforces M&T Bank's commitment to expanding its affordable housing initiatives and providing comprehensive financing solutions to meet client needs and create community impact.

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.

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.

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.

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.

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.

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.

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.

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.