Update (9:50 a.m.): Updated with Monday market open information.
The bank reported diluted earnings per share of $1.61, in line with estimate from analysts opinion data from Thomson Financial network. This is down from $1.98 in the same quarter one year earlier. Net income was $229 million, down from $274 million in the same period one year ago.
The stock was up 2.29% to $120.93 at 9:48 a.m. on Monday.
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Separately, TheStreet Ratings team rates M & T BANK CORP as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate M & T BANK CORP (MTB) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations, notable return on equity, reasonable valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: