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ALBANY, N.Y. - M&T Bank (NYSE:MTB) has announced the appointment of Charles Pinckney as Regional President for its Hudson Valley region, in addition to his current role as Regional President for Albany. The announcement comes as a strategic move to bolster M&T Bank’s community engagement and customer service in the area following the retirement of Mark Stellwag at the end of 2024.
Pinckney, a Capital Region native, brings a wealth of experience to his new dual role. Since joining M&T Bank in 2008, he has held leadership positions across various sectors, including commercial real estate and healthcare. His active involvement in the community is reflected in his board memberships at the Capital Region Chamber and the Center for Economic Growth, among others.
Mike Keegan, M&T Bank Senior Executive Vice President and Head of Community Banking, praised Pinckney’s deep-rooted commitment to local economic growth and his ability to create opportunities that benefit the region. Keegan highlighted Pinckney’s leadership qualities and his understanding of the factors that contribute to a region’s success.
In his statement, Pinckney expressed his eagerness to build upon Stellwag’s legacy and his intent to collaborate with local businesses and nonprofits to support the Hudson Valley’s goals. He emphasized the importance of M&T Bank’s community-based business model, which allows for a more personalized banking experience through local decision-making.
M&T Bank maintains a significant presence in Albany and the Hudson Valley, with 40 branches across 20 counties. The bank’s local engagement model is designed to ensure that community activities, grants, and lending decisions are made at the regional level.
This appointment is based on a press release statement from M&T Bank.
In other recent news, M&T Bank reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $3.92, compared to the forecasted $3.72. The bank also exceeded revenue projections, posting $2.38 billion against the expected $2.34 billion. Truist Securities responded to these results by slightly increasing their price target for M&T Bank to $236, maintaining a Buy rating, and raising their 2025 EPS estimate by 1% to $16.75. Meanwhile, Keefe, Bruyette & Woods maintained a Market Perform rating on M&T Bank with a price target of $221, noting the bank’s balance sheet flexibility despite an anticipated decline in net interest income due to a reduction in commercial real estate loans.
DA Davidson also adjusted their price target slightly to $223 from $222, maintaining a Neutral stance, and highlighted improvements in M&T Bank’s credit metrics and capital ratios. The bank’s management has expressed confidence in its financial strategy, opting to keep full-year guidance unchanged. M&T Bank plans to reduce its common equity tier 1 (CET1) capital ratio from 11.7% to approximately 11% by the end of the year, utilizing share buybacks to enhance shareholder value. These developments reflect M&T Bank’s strategic focus on maintaining a robust financial position amidst a challenging economic environment.
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