Before the market open today, the Buffalo, NY-based bank holding company reported earnings of $2.09 per share, beating analysts' expectations for earnings of $1.96 per share.
Revenue of $1.26 billion topped analysts' forecasts for revenue of $1.24 billion.
M&T was benefited by its acquisition of Hudson City Bancorp, the company said in a statement.
"M&T posted strong financial performance in the fourth quarter, reflecting our recent merger, growth in revenues, controlled expenses and continued solid credit quality, resulting in a 7% increase in diluted net operating earnings per common share from the year-earlier quarter," CFO René Jones said in a statement.
Separately, recently, TheStreet Ratings rated this stock as a "buy" with a ratings score of B. Despite its growing revenue, the company underperformed as compared with the industry average of 1.4%. Since the same quarter one year prior, revenues slightly increased by 1.3%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MTBMTB data by YCharts