: M&T Bank’s mid-quarter update ‘in-line’ with JPMorgan analyst forecasts, as stock rises
M&T Bank Corp. MTB stock is up 0.4% on Wednesday after the bank issued a second-quarter update that on the balance matched analyst forecasts by J.P.Morgan Chase analysts. “Overall, the intra-quarter update was generally in line with many trends shared by regional bank peers such as solid loan growth, modest deposit decreases, and rising deposit betas,” JPMorgan analysts said as they reiterated a neutral rating on the stock. On the plus side, M&T Bank’s quarter-to-date average loan and deposit trends were slightly better than forecast, but the company guided to second-quarter fee income and expenses that were worse than JPMorgan’s forecast as net interest income was guided in line with its forecast.
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