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M&T Bank Corporation

6/19/2013, 5:44 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Tuesday, June 18, 11:30 AM Hudson City Bancorp (HCBK +2%) pops as M&T Bank (MTB +0.6%) looks to soon be able to move forward with its purchase after agreeing with regulators to beef up its anti-money laundering policies. Comment! [Financials, M&A, On the Move, Breaking News]
Friday, June 14, 1:12 PM The delay of the Hudson City Bancorp acquisition (previous) is a "red herring," says Sterne Agee's Todd Hagerman, and the associated "stall" in M&T Bank's (MTB -0.9%) performance has created a buying opportunity. What really matters, Hagerman continues, "is the strong underlying earnings power in an otherwise challenging environment." The shares are upgraded to Buy from Neutral (PT $125). Meanwhile, the stock is downgraded at SunTrust Robinson Humphrey to Neutral from Buy. Comment! [Financials]
Friday, May 31, 3:21 PM Large-cap banks are poised for multiple expansion, says Sterne Agee, as discussions with managements along with data points from recent investor presentations suggest business in Q2 is doing better than expectations. The team is recommending a basket of C, JPM, MS, and GS. In a similar vein, they like a basket of "discounted regionals" - PNC, MTB, RF, USB, and STI. Comment! [Financials]
Friday, May 24, 7:11 AM Remember M&T Bank's (MTB) proposed purchase of Hudson City Bancorp (HCBK)? Regulators have put the merger on ice and it's sending a chill through the executive suites of other regional banks (KRE) who were considering doing deals, but now figure it's not worth the regulatory scrutiny. In the past, conditions such as we're in - slow economy, weak loan growth - have prompted waves of bank mergers (it's happening in community banks). "I am not buying another bank for as long as I can see," sees one unnamed top executive. Comment! [Financials, M&A]
Tuesday, May 21, 5:27 PM M&T Bank Corporation (MTB) declares $0.70/share quarterly dividend, in line with previous. Forward yield 2.64%. For shareholders of record June 3. Payable June 28. Ex-div date May 30. (PR) Comment! [Dividends]
Friday, May 10, 11:28 AM Loan growth at midcap banks (KRE) should rebound in Q2, says Credit Suisse after digging through management commentary from MTB, ZION, BBT, CMA, FITB, and HBAN. Notably not sharing the positive vibe were First Horizon (FHN) and KeyCorp (KEY). Growth is nice, but what about pricing? Fulton Financial (FULT) and Key say it remains competitive, while Zions says margins are getting even tighter. Comment! [Financials]
Saturday, May 4, 1:34 PM More from Omaha: Andrew Ross Sorkin asks if Dodd-Frank banking rules will affect the profitability of Berkshire Hathaway's (BRK.B) investments. Buffett says investments in US Bancorp (USB), M&T Bank (MTB), and similar holdings are not likely to be disproportionately affected, although returns on tangible equity at some holdings will be lower going forward. Buffett also opines on speculation, saying subsequent bubbles will not likely be the fault of the financial sector. Munger: "I do not see why massive derivative books should be mixed up with insured deposits ... [I don't like] bankers acting like investment bankers." (NY Times, WSJ) 9 Comments [Financials]
Wednesday, May 1, 3:58 PM Hudson City Bancorp (HCBK -1.5%) slides post-earnings after slashing its quarterly dividend by 50% to $0.04/share amid a continuing interest margin squeeze. NIM fell to 1.78% from 1.97% in Q4, and 2.15% a year ago. The company provided no update on regulatory approval for its still-in-limbo merger with M&T Bank (MTB). 1 Comment [Financials, On the Move]
Tuesday, April 16, 8:04 AM The outlook for M&T Bank's (MTB) A- rating is cut to Negative at S&P following the Fed stress test. The Fed's identification of certain regulatory concerns "reflects unanticipated potential weaknesses in certain of M&T's compliance proceses," says S&P, though it notes the bank has already begun addressing those concerns. "Financial results remain solid." Comment! [Financials]
Monday, April 15, 8:31 AM More on M&T Bank (MTB) Q1 earnings: Provisions for credit losses fall to $38M from $49M in Q4. Net charge-offs of $37M, down from $44M in Q4. Noninterest income of $433M, +14.8% Y/Y, but down 4.4% sequentially as the kicker from mortgage banking revenue begins to slow - it was up $37M Y/Y, but down $23M from Q4. Tangible book value/share of $46.11, up from $44.61 in Q4. Tier 1 common ratio of 7.93%, up from 7.57% in Q4. (PR) Comment! [Financials, Earnings]
Monday, April 15, 8:08 AM M&T Bank (MTB): Q1 EPS of $2.06 beats by $0.08. (PR) Comment! [Earnings, Breaking News, Financials]
Monday, April 15, 12:05 AM Notable earnings before Monday’s open: C, MTB Comment! [Earnings]
Sunday, April 14, 5:30 PM Notable earnings before Monday’s open: C, MTB 1 Comment [Earnings]
Friday, April 12, 9:29 AM M&T Bank (MTB) and Hudson City Bancorp (HCBK) both tumble about 4.5% as they have been unable to gain regulatory approval for their merger. "The timeframe for closing the transaction will be extended substantially beyond the date previously expected." The date for terminating the agreement is moved from August 27 to January 31, 2014. (PR) Comment! [Financials, M&A, On the Move]
Tuesday, March 26, 1:08 PM M&T Bank (MTB) looks to benefit as Bank of America (BAC) shutters its mortgage-servicing operation in Western New York, not only growing its own servicing business, but taking over the lease for BofA's 132K square foot facility, and maybe hiring most if not all of the employees scheduled to be let go. 2 Comments [Financials]
Tuesday, March 5, 7:39 AM KeyCorp (KEY), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM), and BB&T (BBT) make RBC's list of best-capitalized banks - those that the Fed this month should allow dividends/buybacks of 75-100% of earnings. WFC, FITB, and MTB are in the middle of the pack and should be allowed payouts of 50-75%. Capital laggards - BAC, C, and COF - may only be allowed payouts of 10-30% of earnings. 6 Comments [Financials]