M&T Bank Corp beat Wall Street estimates for first-quarter profit on Monday, as the U.S. Federal Reserve's rapid rate hikes to tame high inflation boosted the lender's interest income.
Buildings are reflected in the window of an M&T Bank branch in New York August 27, 2012. REUTERS/Brendan McDermid/File Photobeat Wall Street estimates for first-quarter profit on Monday, as the U.S. Federal Reserve's rapid rate hikes to tame high inflation boosted the lender's interest income.
Shares of M&T Bank rose nearly 3% to $120 in premarket trading. They have lost roughly 20% of their value this year. Total deposits for M&T Bank fell nearly 3% to $159.1 billion, compared with $163.5 billion at the end of the previous quarter.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
N.J. credit rating gets two more upgrades from Wall Street as state coffers overflowThe latest decision from S&P Global Ratings marks New Jersey's sixth credit rating upgrade in just over a year.
Read more »
House Speaker Kevin McCarthy on Wall Street to deliver speech to New York Stock ExchangeHouse Speaker Kevin McCarthy will address the state of the economy and is expected to outline how Republicans plan to raise the debt ceiling for a year.
Read more »
M&T Bank stock rises on earnings beatM&T Bank Corp. stock is up about 3% on Monday after the bank’s first-quarter earnings of $4.01 a share beat the analyst target of $3.94 a share, according to...
Read more »
State Street stock drops on earnings miss tied to lower fee revenueState Street Corp. stock fell 6% in premarket trades after the Boston-based financial firm missed consensus estimates for profit and revenue. State Street...
Read more »
What you need to know about creating a living garden wallOur gardening columnist Joshua Siskin shares tips for gardeners.
Read more »