M&T Bank reported second-quarter 2026 net operating earnings per share of $5.35, beating the Zacks Consensus Estimate of $4.66 and up from $4.28 a year earlier. Quarterly revenues rose 5.7% year over year to $2.53 billion, also above the consensus of $2.48 billion, driven by a 4.8% increase in net interest income to $1.80 billion and an 8.3% rise in non-interest income to $740 million. Total loans grew 2.3% sequentially to $143.2 billion, while deposits increased 3.1% to $168.9 billion, and net charge-offs fell 25.9% to $80 million. Management raised its 2026 non-interest income guidance to between $2.8 billion and $2.85 billion and now expects average loan balances of $141 to $143 billion, while projecting taxable-equivalent net interest income in the lower half of the $7.2 to $7.35 billion range. The stock has lost about 0.3% since the earnings release, underperforming the S&P 500, and currently carries a Zacks Rank #3 (Hold).
M&T Bank CorporationQ2 earnings beat estimates on strong NII and fee income, with raised guidance.
