M&T Bank Corporation

M&T Bank Corporation (NYSE: MTB) is a bank holding company that offers a range of retail and commercial banking, trust and wealth management, and investment services.

Key Highlights

• The company reported a decline of 1.55% in net interest income to USD 942.34 million in Q2FY21 (ended June 30, 2021) compared to USD 957.14 million in Q2FY20.
• Net income for Q2FY21 increased to USD 458.07 million from USD 241.05 million reported in Q2FY20.
• On August 17, 2021, the company declared a quarterly dividend of USD 1.10 per common share, payable on September 30, 2021, to shareholders of record on September 1, 2021.
• On July 16, 2021, it stated that its previously announced merger with People's United Financial, Inc. is currently pending regulatory approvals.
• MTB's efficiency ratio for Q2FY21 was 58.4%, higher than the industry median of 56.4%.
• Stock is currently trading between its crucial short-term (50-day) and long-term (200-day) SMA support levels.
• Stock is currently leaning towards the higher end of the 52-week range of USD 88.48 to USD 168.27.
• MTB's share price has increased 4.60% in the past month and decreased 13.61% in the past three months.

Technical Price Chart (as of August 31, 2021). Analysis by Kalkine

Conclusion: Considering the movement in the stock price in the past three months, a surge in the bottom line, current trading levels, and associated risks, we recommend a "Watch" rating on the stock at the closing price of USD 140.01, up 1.55% as of August 31, 2021.

*The reference data in this report has been partly sourced from REFINITIV. 

Ladder Capital Corp

Ladder Capital Corp (NYSE: LADR) is a mortgage real estate investment trust (REIT) that manages a diverse portfolio of senior secured commercial real estate and real estate-related assets in the US.

Key Highlights

• The company reported a net interest income of USD (7.65) million in Q2FY21 (ended June 30, 2021) compared to USD (6.33) million in Q2FY20.
• LADR reported a net income of USD 10.29 million in Q2FY21 in contrast to a net loss of USD 4.19 million in Q2FY20.
• On July 15, 2021, the company paid a dividend of USD 0.20 per common share to shareholders of record on June 30, 2021.
• On June 23, 2021, LADR's financial subsidiaries closed the issuance of USD 650 million aggregate principal amount of 4.750% senior notes due 2029.
• Stock is currently trading above its crucial short-term as well as long-term 50-day and 200-day SMA support levels, a bullish indicator.
• Stock is currently leaning towards the higher end of the 52-week range of USD 6.33 to USD 12.65.
• LADR's share price has increased 20.23% and 53.15% in the past nine and twelve months, respectively.

Technical Price Chart (as of August 31, 2021). Analysis by Kalkine

Conclusion: The company's top-line performance deteriorated in Q2FY21 compared to the previous comparable period. Given the lackluster fundamentals, a significant surge in the stock price in the past twelve months, and lack of visibility in top-line growth, we recommend an "Avoid" rating on the stock at the closing price of USD 11.41, up 0.97% as of August 31, 2021.

*The reference data in this report has been partly sourced from REFINITIV.