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M&T Bank
(NYSE:MTB)
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Rating:78Outperform
Price Target:
$284.00
▲(29.80% Upside)
Action:Reiterated
Date:07/22/26
MTB scores well on solid financial performance (strong profitability and cash conversion) and strong technical momentum (price above key moving averages with positive MACD). The score is moderated by some fundamental watch items—revenue/margin volatility, higher leverage, and guided modest NIM pressure/CET1 sensitivity—while valuation remains reasonable with a mid-teens P/E and a moderate dividend yield.
Positive Factors
Cash generation & profitability
Consistent trailing‑12M earnings ($2.93B) with free cash flow of ~$3.25B (~96% of net income) shows durable cash generation and operating efficiency. This underpins dividend capacity, capital returns and reinvestment while providing buffer to absorb cyclical credit stress over months.
Negative Factors
Thin CET1 cushion
CET1 at ~10.19% and recent decline from buybacks and RWA growth narrows regulatory capital headroom. Operating in the lower 10–10.5% range limits balance‑sheet flexibility, constrains future buybacks/dividends during stress, and raises sensitivity to credit or market shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & profitability
Consistent trailing‑12M earnings ($2.93B) with free cash flow of ~$3.25B (~96% of net income) shows durable cash generation and operating efficiency. This underpins dividend capacity, capital returns and reinvestment while providing buffer to absorb cyclical credit stress over months.
Read all positive factors
M&T Bank Key Performance Indicators (KPIs)
Any
Net Interest Income by Segment
Shows interest income minus interest expense generated by each business line (commercial, consumer, wealth, etc.), revealing how loan growth, deposit costs, and rate moves affect M&T’s core profitability and where margin pressure is concentrated.
Shows interest income minus interest expense generated by each business line (commercial, consumer, wealth, etc.), revealing how loan growth, deposit costs, and rate moves affect M&T’s core profitability and where margin pressure is concentrated.
Data provided by:
The Fly
The FlyM&T Bank (MTB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$36.04B
Dividend Yield2.44%
Average Volume (3M)1.18M
Price to Earnings (P/E)13.4
Beta (1Y)0.86
Revenue Growth0.50%
EPS Growth22.74%
CountryUS
Employees22,080
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)17.84
Shares Outstanding144,933,000
10 Day Avg. Volume1,288,103
30 Day Avg. Volume1,180,550
Financial Highlights & Ratios
PEG Ratio0.73
Price to Book (P/B)1.13
Price to Sales (P/S)2.67
P/FCF Ratio11.50
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$259.41Price Target Upside18.56% Upside
Rating ConsensusHold
Number of Analyst Covering17
EPS Forecast (FY)19.24
Revenue Forecast (FY)$10.04B
M&T Bank Business Overview & Revenue Model
Company Description
M&T Bank Corporation functions as a bank holding entity, delivering a broad spectrum of financial solutions to both commercial enterprises and individual consumers. Its Business Banking division caters to small businesses and professionals, provid...
How the Company Makes Money
M&T Bank primarily makes money through a mix of net interest income and noninterest income. Net interest income is earned by collecting interest on loans and other interest-earning assets (e.g., commercial loans, commercial real estate loans, resi...
M&T Bank Earnings Call Summary
Earnings Call Date:Jul 15, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 16, 2026
Earnings Call Sentiment Positive
The call conveyed a decisively positive operational quarter: record EPS, strong and broad-based loan growth (commercial, CRE, consumer), higher NII and fee income, improved efficiency and credit metrics, and ample liquidity. Management provided constructive guidance for continued loan and fee growth while acknowledging modest near-term pressures: slight NIM compression expected, elevated investments driving higher full-year expenses, a small CET1 ratio decline from buybacks and loan-driven RWA, and some remaining CRE concentration risk (office). Overall, positives (record earnings, credit improvement, revenue diversification and liquidity) significantly outweigh the manageable challenges, and management appears constructive and disciplined.Positive Updates
Record Quarterly Earnings Per Share and Net Income Growth
Diluted GAAP EPS of $5.32, up from $4.13 in the prior quarter (+28.8%), the highest quarterly diluted EPS in M&T's history. Net income of $818 million vs. $664 million in the linked quarter (+23.2%).
Negative Updates
CET1 Ratio Decline and Capital Impact from Buybacks
Estimated CET1 ratio declined 14 bps to 10.19% QoQ. Decline driven by $465 million in share repurchases and higher risk-weighted assets from $3.3 billion of loan growth. Management expects to operate in the lower part of the 10%-10.5% CET1 range and indicated buybacks will be adjusted vs. lending-driven RWA growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Earnings Per Share and Net Income Growth
Diluted GAAP EPS of $5.32, up from $4.13 in the prior quarter (+28.8%), the highest quarterly diluted EPS in M&T's history. Net income of $818 million vs. $664 million in the linked quarter (+23.2%).
Read all positive updates
Company Guidance
M&T guided full‑year net interest income in the lower half of $7.2–$7.35 billion and a full‑year NIM in the high 3.60% range, with average loans of $141–$143 billion and average deposits of $165–$167 billion (cumulative interest‑bearing deposit beta targeted in the low‑to‑mid‑50% range). They expect fee income of $2.8–$2.85 billion, non‑interest expense at the high end of $5.5–$5.6 billion, and full‑year net charge‑offs of about 37 basis points, and plan to operate CET1 in the lower part of the 10.0%–10.5% range absent material market deterioration; management also reiterated continued H2 loan and deposit growth, neutrality on the short end of the curve, and that NII will depend on yield‑curve shape while the asset‑sensitive balance sheet and hedging tools provide flexibility.M&T Bank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.36B | 12.31B | 13.40B | 12.51B | 8.44B | 6.08B |
| Gross Profit | 9.31B | 9.19B | 8.62B | 8.75B | 7.50B | 6.04B |
| EBITDA | 4.15B | 3.96B | 3.82B | 4.12B | 3.05B | 2.78B |
| Net Income | 2.93B | 2.85B | 2.59B | 2.74B | 1.99B | 1.86B |
Balance Sheet | ||||||
| Total Assets | 214.74B | 213.51B | 208.10B | 208.26B | 200.73B | 155.11B |
| Cash, Cash Equivalents and Short-Term Investments | 55.06B | 55.42B | 35.33B | 40.35B | 37.35B | 47.22B |
| Total Debt | 19.03B | 13.06B | 13.66B | 13.52B | 7.52B | 3.53B |
| Total Liabilities | 186.76B | 184.33B | 179.08B | 181.31B | 175.41B | 137.20B |
| Stockholders Equity | 27.97B | 29.18B | 29.03B | 26.96B | 25.32B | 17.90B |
Cash Flow | ||||||
| Free Cash Flow | 3.25B | 2.86B | 3.39B | 3.65B | 4.36B | 2.57B |
| Operating Cash Flow | 3.38B | 3.00B | 3.61B | 3.90B | 4.57B | 2.71B |
| Investing Cash Flow | -9.55B | -6.82B | -550.00M | -7.87B | 16.59B | -13.63B |
| Financing Cash Flow | 994.00M | 1.80B | -2.88B | 4.18B | -20.98B | 10.70B |
M&T Bank Technical Analysis
Positive
218.79
Price Trends
227.76
Positive
218.80
Positive
209.03
Positive
Market Momentum
5.92
Positive
58.92
Neutral
59.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTB, the sentiment is Positive. The current price of 218.79 is below the 20-day moving average (MA) of 242.88, below the 50-day MA of 227.76, and above the 200-day MA of 209.03, indicating a bullish trend. The MACD of 5.92 indicates Positive momentum. The RSI at 58.92 is Neutral, neither overbought nor oversold. The STOCH value of 59.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MTB.
M&T Bank Risk Analysis
M&T Bank disclosed 32 risk factors in its most recent earnings report. M&T Bank reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
M&T Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $36.04B | 13.44 | 10.66% | 2.76% | 0.50% | 22.74% | |
78 Outperform | $26.34B | 12.36 | 11.79% | 3.74% | 0.18% | 14.72% | |
76 Outperform | $30.63B | 15.47 | 8.14% | 2.89% | 1.55% | 40.55% | |
74 Outperform | $24.94B | 13.13 | 9.74% | 3.90% | 18.88% | ― | |
73 Outperform | $52.26B | 19.25 | 8.43% | 3.14% | 17.75% | -8.65% | |
71 Outperform | $37.04B | 12.79 | 8.82% | 3.50% | 18.75% | -3.57% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
MTB
M&T Bank
245.97
57.89
30.78%
FITB
Fifth Third Bancorp
57.15
15.86
38.41%
HBAN
Huntington Bancshares
17.40
1.36
8.49%
KEY
KeyCorp
22.72
4.97
28.01%
RF
Regions Financial
30.66
5.37
21.25%
CFG
Citizens Financial
71.80
24.06
50.41%
M&T Bank Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
M&T Bank Completes Series L Preferred Share Offering
Positive
Jul 21, 2026
On July 17, 2026, MT Bank Corporation filed a certificate of amendment in New York to establish its Perpetual 6.625% Non-Cumulative Preferred Stock, Series L, which ranks senior to common stock and on parity with existing preferred series for divi...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
M&T Bank Highlights 2025 Results and 2026 Priorities
Positive
May 1, 2026
On May 1, 2026, MT Bank Corporation posted a second-quarter 2026 investor presentation outlining its strategic priorities and highlighting its strong financial performance in 2025, which it sees as the foundation for 2026. The bank reported record...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
M&T Bank Shareholders Approve All Proposals at 2026 Meeting
Positive
Apr 23, 2026
MT Bank Corporation held its 2026 Annual Meeting of Shareholders on April 21, 2026, where investors approved all management-backed proposals, including the election of twelve directors to one-year terms and the 2025 compensation of the companyR...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.