M&T Bank Corp. Announces Decline In Q1 Bottom Line, but beats estimates

(RTTNews) - M&T Bank Corp. (MTB) revealed a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $339.59 million, or $2.62 per share. This compares with $428.09 million, or $3.33 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

M&T Bank Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $339.59 Mln. vs. $428.09 Mln. last year. -EPS (Q1): $2.62 vs. $3.33 last year. -Analyst Estimates: $2.19