Subtext

M&T Bank Corporation MTB

SectorFinancials
Transcripts71
Date range2007-10-11 – 2025-04-14
Calls charted71

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-16-8+0+8+162007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Overall: -2.12007 Q4 · Overall: -7.72008 Q1 · Overall: -13.52008 Q2 · Overall: -11.32008 Q3 · Overall: -11.92008 Q4 · Overall: -7.92009 Q1 · Overall: -9.02009 Q2 · Overall: -7.62009 Q3 · Overall: -7.42009 Q4 · Overall: -5.42010 Q1 · Overall: -7.72010 Q2 · Overall: -2.62010 Q3 · Overall: -2.02010 Q4 · Overall: -2.52011 Q1 · Overall: -0.72011 Q2 · Overall: -2.02011 Q3 · Overall: -1.52011 Q4 · Overall: -1.52012 Q1 · Overall: +0.72012 Q2 · Overall: +0.32012 Q3 · Overall: +0.62012 Q4 · Overall: -1.52013 Q1 · Overall: -4.42013 Q2 · Overall: -0.72013 Q3 · Overall: -0.62013 Q4 · Overall: +2.92014 Q1 · Overall: +0.12014 Q2 · Overall: +1.52014 Q3 · Overall: +1.62014 Q4 · Overall: +5.32015 Q1 · Overall: +1.62015 Q2 · Overall: +4.12015 Q3 · Overall: +4.12015 Q4 · Overall: +1.32016 Q1 · Overall: +3.52016 Q2 · Overall: +2.72016 Q3 · Overall: +1.12016 Q4 · Overall: +3.22017 Q1 · Overall: -1.12017 Q2 · Overall: +1.72017 Q3 · Overall: +1.82017 Q4 · Overall: +4.12018 Q1 · Overall: -1.02018 Q2 · Overall: +7.52018 Q3 · Overall: -2.02018 Q4 · Overall: +2.92019 Q1 · Overall: -3.42019 Q2 · Overall: -3.52019 Q3 · Overall: -0.82019 Q4 · Overall: +7.62020 Q1 · Overall: -5.32020 Q2 · Overall: -7.12020 Q3 · Overall: +0.82020 Q4 · Overall: -4.62021 Q1 · Overall: -1.72021 Q2 · Overall: -1.02021 Q3 · Overall: -2.72021 Q4 · Overall: +0.72022 Q1 · Overall: -4.42022 Q2 · Overall: -4.82022 Q3 · Overall: +0.52022 Q4 · Overall: -3.02023 Q1 · Overall: -3.62023 Q2 · Overall: +6.92023 Q3 · Overall: +4.12023 Q4 · Overall: +3.92024 Q1 · Overall: +0.02024 Q2 · Overall: +3.52024 Q3 · Overall: +10.22024 Q4 · Overall: +8.32025 Q1 · Overall: +4.8
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-26-13+0+13+262007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22018 Q2 · CEO: +22.32019 Q4 · CEO: +17.12007 Q3 · CFO: -2.32008 Q1 · CFO: -17.12008 Q3 · CFO: -10.82008 Q4 · CFO: -2.22009 Q1 · CFO: -5.82009 Q3 · CFO: -5.02010 Q2 · CFO: -2.32010 Q3 · CFO: -1.92010 Q4 · CFO: -0.82011 Q2 · CFO: -0.72014 Q4 · CFO: +7.02015 Q1 · CFO: +2.52015 Q2 · CFO: +5.92015 Q3 · CFO: +6.42015 Q4 · CFO: +1.42016 Q1 · CFO: +4.02016 Q3 · CFO: +3.82016 Q4 · CFO: +2.22017 Q1 · CFO: -1.52017 Q2 · CFO: +2.32017 Q3 · CFO: +3.62017 Q4 · CFO: +4.72018 Q1 · CFO: +0.82018 Q2 · CFO: +4.32018 Q3 · CFO: -1.12018 Q4 · CFO: +1.72019 Q1 · CFO: -2.82019 Q2 · CFO: -2.42019 Q3 · CFO: +0.42019 Q4 · CFO: +4.52020 Q1 · CFO: -4.72020 Q2 · CFO: -6.42020 Q3 · CFO: +2.22020 Q4 · CFO: -4.22021 Q1 · CFO: +0.12021 Q2 · CFO: -0.12021 Q3 · CFO: -1.62021 Q4 · CFO: +0.32022 Q1 · CFO: -3.12022 Q2 · CFO: -2.52022 Q3 · CFO: +1.42022 Q4 · CFO: -0.42023 Q1 · CFO: -3.22023 Q2 · CFO: +8.72023 Q3 · CFO: +8.02023 Q4 · CFO: +7.82024 Q1 · CFO: +2.72024 Q2 · CFO: +4.82024 Q3 · CFO: +14.22024 Q4 · CFO: +12.82025 Q1 · CFO: +7.5
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-27-13+0+13+272007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Prepared remarks: -2.92007 Q4 · Prepared remarks: -7.92008 Q1 · Prepared remarks: -14.42008 Q2 · Prepared remarks: -10.02008 Q3 · Prepared remarks: -9.02008 Q4 · Prepared remarks: -6.32009 Q1 · Prepared remarks: -9.02009 Q2 · Prepared remarks: -5.02009 Q3 · Prepared remarks: -9.32009 Q4 · Prepared remarks: -2.42010 Q1 · Prepared remarks: -9.62010 Q2 · Prepared remarks: -8.82010 Q3 · Prepared remarks: -4.72010 Q4 · Prepared remarks: +1.62011 Q1 · Prepared remarks: -0.52011 Q2 · Prepared remarks: -0.42011 Q3 · Prepared remarks: -3.62011 Q4 · Prepared remarks: -3.22012 Q1 · Prepared remarks: -3.72012 Q2 · Prepared remarks: +2.42012 Q3 · Prepared remarks: -0.92012 Q4 · Prepared remarks: -1.52013 Q1 · Prepared remarks: -3.52013 Q2 · Prepared remarks: +2.32013 Q3 · Prepared remarks: -3.42013 Q4 · Prepared remarks: +3.02014 Q1 · Prepared remarks: -1.42014 Q2 · Prepared remarks: +7.72014 Q3 · Prepared remarks: +2.52014 Q4 · Prepared remarks: +5.72015 Q1 · Prepared remarks: -1.52015 Q2 · Prepared remarks: +4.92015 Q3 · Prepared remarks: +3.92015 Q4 · Prepared remarks: -0.32016 Q1 · Prepared remarks: -0.42016 Q2 · Prepared remarks: +2.02016 Q3 · Prepared remarks: +3.82016 Q4 · Prepared remarks: +5.62017 Q1 · Prepared remarks: +0.72017 Q2 · Prepared remarks: +3.62017 Q3 · Prepared remarks: +3.52017 Q4 · Prepared remarks: +4.72018 Q1 · Prepared remarks: +2.42018 Q2 · Prepared remarks: +17.22018 Q3 · Prepared remarks: -0.82018 Q4 · Prepared remarks: +2.92019 Q1 · Prepared remarks: -0.32019 Q2 · Prepared remarks: -3.32019 Q3 · Prepared remarks: -3.42019 Q4 · Prepared remarks: +17.22020 Q1 · Prepared remarks: -8.72020 Q2 · Prepared remarks: -8.72020 Q3 · Prepared remarks: -1.02020 Q4 · Prepared remarks: -7.92021 Q1 · Prepared remarks: -2.62021 Q2 · Prepared remarks: -6.82021 Q3 · Prepared remarks: -2.12021 Q4 · Prepared remarks: -5.02022 Q1 · Prepared remarks: -6.32022 Q2 · Prepared remarks: -1.62022 Q3 · Prepared remarks: -1.02022 Q4 · Prepared remarks: +1.32023 Q1 · Prepared remarks: -2.22023 Q2 · Prepared remarks: +4.82023 Q3 · Prepared remarks: +7.22023 Q4 · Prepared remarks: +2.62024 Q1 · Prepared remarks: -4.32024 Q2 · Prepared remarks: -3.22024 Q3 · Prepared remarks: -2.22024 Q4 · Prepared remarks: +7.52025 Q1 · Prepared remarks: +2.42007 Q3 · Q&A responses: -1.32007 Q4 · Q&A responses: -5.52008 Q1 · Q&A responses: -9.92008 Q2 · Q&A responses: -8.62008 Q3 · Q&A responses: -10.22008 Q4 · Q&A responses: +0.32009 Q1 · Q&A responses: -3.72009 Q2 · Q&A responses: -4.52009 Q3 · Q&A responses: -2.02009 Q4 · Q&A responses: -2.12010 Q1 · Q&A responses: -7.22010 Q2 · Q&A responses: +1.82010 Q3 · Q&A responses: +0.92010 Q4 · Q&A responses: -1.52011 Q1 · Q&A responses: +3.02011 Q2 · Q&A responses: -2.22011 Q3 · Q&A responses: +2.72011 Q4 · Q&A responses: +1.52012 Q1 · Q&A responses: +3.92012 Q2 · Q&A responses: +1.52012 Q3 · Q&A responses: +2.72012 Q4 · Q&A responses: +0.82013 Q1 · Q&A responses: -1.22013 Q2 · Q&A responses: +1.82013 Q3 · Q&A responses: +2.42013 Q4 · Q&A responses: +6.82014 Q1 · Q&A responses: +3.72014 Q2 · Q&A responses: +4.32014 Q3 · Q&A responses: +3.22014 Q4 · Q&A responses: +8.02015 Q1 · Q&A responses: +5.12015 Q2 · Q&A responses: +6.72015 Q3 · Q&A responses: +6.82015 Q4 · Q&A responses: +3.02016 Q1 · Q&A responses: +5.92016 Q2 · Q&A responses: +5.22016 Q3 · Q&A responses: +4.02016 Q4 · Q&A responses: +3.62017 Q1 · Q&A responses: -2.02017 Q2 · Q&A responses: +2.92017 Q3 · Q&A responses: +4.22017 Q4 · Q&A responses: +4.62018 Q1 · Q&A responses: +0.42018 Q2 · Q&A responses: +5.82018 Q3 · Q&A responses: -0.52018 Q4 · Q&A responses: +0.92019 Q1 · Q&A responses: -3.92019 Q2 · Q&A responses: -1.12019 Q3 · Q&A responses: +2.72019 Q4 · Q&A responses: +6.42020 Q1 · Q&A responses: -1.82020 Q2 · Q&A responses: -3.62020 Q3 · Q&A responses: +4.62020 Q4 · Q&A responses: +0.32021 Q1 · Q&A responses: +1.22021 Q2 · Q&A responses: +3.12021 Q3 · Q&A responses: -2.22021 Q4 · Q&A responses: +4.82022 Q1 · Q&A responses: -0.62022 Q2 · Q&A responses: -5.82022 Q3 · Q&A responses: +3.72022 Q4 · Q&A responses: -1.62023 Q1 · Q&A responses: -2.92023 Q2 · Q&A responses: +11.32023 Q3 · Q&A responses: +8.62023 Q4 · Q&A responses: +10.72024 Q1 · Q&A responses: +5.52024 Q2 · Q&A responses: +12.12024 Q3 · Q&A responses: +23.12024 Q4 · Q&A responses: +15.42025 Q1 · Q&A responses: +6.5
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$7.14$13.52$19.912007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: $8.022014 Q2: $8.232014 Q3: $8.482014 Q4: $8.562015 Q1: $8.702015 Q2: $8.552015 Q3: $8.792015 Q4: $8.582016 Q1: $8.642016 Q2: $8.652016 Q3: $8.462016 Q4: $8.592017 Q1: $8.982017 Q2: $9.622017 Q3: $9.812017 Q4: $10.002018 Q1: $12.422018 Q2: $12.712018 Q3: $13.542018 Q4: $14.062019 Q1: $14.662019 Q2: $14.932019 Q3: $14.062019 Q4: $13.652020 Q1: $13.352020 Q2: $9.102020 Q3: $9.472020 Q4: $10.282021 Q1: $11.122021 Q2: $11.992021 Q3: $11.822021 Q4: $11.692022 Q1: $12.412022 Q2: $15.702022 Q3: $17.872022 Q4: $19.032023 Q1: $18.012023 Q2: $16.452023 Q3: $15.322023 Q4: $14.802024 Q1: $14.542024 Q2: $15.132024 Q3: $15.642024 Q4: $16.31

Forward P/E

6.0312.5919.142007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: 14.752014 Q2: 15.052014 Q3: 14.892014 Q4: 14.242015 Q1: 14.612015 Q2: 14.652015 Q3: 13.892015 Q4: 14.732016 Q1: 12.802016 Q2: 13.442016 Q3: 13.672016 Q4: 17.802017 Q1: 18.242017 Q2: 16.902017 Q3: 15.342017 Q4: 17.102018 Q1: 15.322018 Q2: 13.732018 Q3: 12.712018 Q4: 10.072019 Q1: 11.742019 Q2: 11.112019 Q3: 11.342019 Q4: 12.322020 Q1: 8.072020 Q2: 12.102020 Q3: 10.912020 Q4: 12.352021 Q1: 13.742021 Q2: 12.982021 Q3: 11.612021 Q4: 12.882022 Q1: 14.612022 Q2: 10.542022 Q3: 10.262022 Q4: 7.562023 Q1: 6.932023 Q2: 7.412023 Q3: 8.232023 Q4: 9.362024 Q1: 9.842024 Q2: 9.702024 Q3: 11.132024 Q4: 11.41

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q1 tone ↓ -3.7 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q2 tone ↑ +2.5 fwd EPS ↓ -0.14 Tone rose while the forward EPS estimate was cut.
  • 2017 Q1 tone ↓ -4.4 fwd EPS ↑ +0.39 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -5.1 fwd EPS ↑ +2.42 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -9.5 fwd EPS ↑ +0.83 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↓ -6.3 fwd EPS ↑ +0.60 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↑ +2.7 fwd EPS ↓ -0.87 Tone rose while the forward EPS estimate was cut.
  • 2019 Q4 tone ↑ +8.4 fwd EPS ↓ -0.41 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↓ -5.4 fwd EPS ↑ +0.81 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↑ +3.4 fwd EPS ↓ -0.13 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -5.2 fwd EPS ↑ +0.72 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↓ -3.5 fwd EPS ↑ +1.16 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↑ +10.6 fwd EPS ↓ -1.56 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-14+4.8——View →
2024 Q42025-01-16+8.3$16.3111.4View →
2024 Q32024-10-17+10.2$15.6411.1View →
2024 Q22024-07-18+3.5$15.139.7View →
2024 Q12024-04-15+0.0$14.549.8View →
2023 Q42024-01-18+3.9$14.809.4View →
2023 Q32023-10-18+4.1$15.328.2View →
2023 Q22023-07-19+6.9$16.457.4View →