M&T Bank Corporation (MTB) is scheduled to report its third-quarter 2016 earnings on Wednesday, Oct 19, 2016, before the market opens.
M&T Bank Corporation's (MTB) net operating earnings of $2.07 per share for second-quarter 2016 improved 3% year over year on higher net interest income
Driven by higher revenues, M&T Bank Corporation's (MTB) first-quarter 2016 net operating earnings of $1.87 per share outpaced the Zacks Consensus Estimate by a penny.
M&T Bank came out with earnings per share of $1.87, beating the Zacks Consensus Estimate of $1.86. Strong top line along with loan and deposit growth was primarily responsible for this earnings beat.
M&T Bank came out with earnings per share of $2.09 for fourth-quarter 2015, beating the Zacks Consensus Estimate of $1.98
The closing date of the proposed merger between M&T Bank Corporation (MTB) and Hudson City Bancorp, Inc. (HCBK) has been further extended to Apr 30, 2015 from the previous deadline of Dec 31, 2014.
Hudson City Bancorp, Inc. (HCBK) reported the fourth consecutive quarter of positive earnings surprise with the third-quarter 2014 earnings of 7 cents per share outpacing the Zacks Consensus Estimate by a penny.
On Sep 18, 2014, we issued an updated research report on Hudson City Bancorp, Inc. (HCBK)
Hudson City Bancorp (NASDAQ:HCBK) appoints Denis Salamone to replace Ronald Hermance - who just passed away - as Chairman of the Board. Salamone last week was selected to replace Hermance as CEO.Source: Press Release Post your comment!
In accordance with the bank's plan of succession, Hudson City Bancorp (NASDAQ:HCBK) appoints Denis Salamone as CEO, effective immediately. He succeeds Ronald Hermance who unexpectedly passed away last night.Salamone has been COO of the bank since December 2010 and was acting chairman and CEO during Hermance's medical leave of absence in 2012.Source: Press ReleasePreviously: Hudson City Bancorp Chairman and CEO passes away Post your comment!
Two years ago, M&T Bank Corp. announced a $3.7 billion deal to buy Hudson City Bancorp. But regulators at the Federal Reserve have held up the deal ever since, a move that is widely seen as having helped chill the merger market for banks.
Hudson City Bancorp, Inc. (HCBK) reported the third consecutive quarter of positive earnings surprise with the second-quarter earnings of 8 cents per share outpacing the Zacks Consensus Estimate by a penny
Net income of $39.2M or $0.08 per share vs. $48.7M and $0.10 one year ago. Quarterly dividend of $0.04 declared.Net interest income of $42.2M falls 26% Y/Y, with NIM of 1.29% tumbling 35 basis points.Noninterest income of $21.2M rises from $9.6M, boosted by $19.5M in gains from sale of $565.6M of MBS (gains were $7.2M in Q2 one year ago).Noninterest expense of $73.1M vs. $76.6M one year ago, thanks to a $6.5M decrease in Federal deposit insurance costs (as balance sheet shrunk). Compensation and employee benefit costs were about flat.No loan loss provision vs. $12.5M provision one year ago.Efficiency ratio of 52.65% deteriorates from 45.22% a year ago. Tier 1 leverage capital ratio of 11.26% up from 10.82% at start of year.HCBK continues to mark time as it awaits approval for its purchase by M&T Bank.Previously: Hudson City Bancorp beats by $0.01, beats on revenue Post your comment!
Hudson City Bancorp (NASDAQ:HCBK): Q2 EPS of $0.08 beats by $0.01.Revenue of $138.86M (-18.0% Y/Y) beats by $9.99M.Press Release Post your comment!
On Jun 20, 2014, we issued an updated research report on Hudson City Bancorp, Inc. (HCBK)
Shares of Hudson City Bancorp (HCBK) reached a new 52-week high of $10.15 on Jun 9.
Among those started at Buy is M&T Bank (MTB -0.9%), with analyst Bill Carcache noting the usually strong performer has lagged over the past 16 months amid regulatory issues and the delay of the Hudson City Bancorp (HCBK -1%) acquisition. Carcache expects approval this year, along with meaningful operating efficiency improvements. "We believe MTB shares are trading at a significant discount to their intrinsic value and expect to see meaningful share price appreciation through 2015."Also a Buy is Wells Fargo (WFC -0.8%), with Carcache seeing the bank as well-positioned if the economic recovery remains muted thanks to a combination of fee income and expense control.Started at Reduce with $40 price target is Comerica (CMA -1.7%), with Carcache saying the stock price has gotten ahead of itself.See also: More on Nomura's wide-ranging new bank coverage Post your comment!
Hudson City Bancorp, Inc. (HCBK) reported yet another impressive quarter as it came out with first-quarter 2014 earnings of 9 cents per share, beating the Zacks Consensus Estimate by a penny.