M&T Bank (MTB) AI Stock Analysis

• Market Cap: $28.07B
• Dividend Yield: 3.05%
• Average Volume (3M): 1.23M
• Price to Earnings (P/E): 11.3
• Beta (1Y): 0.85
• Revenue Growth: -0.81%
• EPS Growth: 20.34%
• Country: US
• Employees: 22,291
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 4.82
• Shares Outstanding: 153,690,780
• 10 Day Avg. Volume: 884,447
• 30 Day Avg. Volume: 1,229,787
• PEG Ratio: -1.68
• Price to Book (P/B): 1.08
• Price to Sales (P/S): 2.33
• P/FCF Ratio: 9.22
• Enterprise Value/Market Cap: 1.65
• Enterprise Value/Revenue: 3.76
• Enterprise Value/Gross Profit: 5.12
• Enterprise Value/Ebitda: 11.60
• 1Y Price Target: $220.90
• Price Target Upside: 20.88% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 16
• EPS Forecast (FY): 16.81
• Revenue Forecast (FY): $9.69B

• Rating: 74 Outperform
• Price Target: $205.00 ▲(12.18% Upside)

M&T Bank's overall stock score is driven by strong earnings performance and attractive valuation, despite some technical weaknesses and challenges in deposit growth and charge-offs. The company's robust dividend yield and strategic initiatives in sustainability further support its investment appeal.

Positive Factors

Strong Cash Generation

Strong cash generation enhances M&T Bank's ability to invest in growth opportunities, return capital to shareholders, and maintain financial flexibility.

Improved Asset Quality

Improved asset quality reduces risk and potential losses, supporting long-term financial stability and profitability for M&T Bank.

Increased Dividends

Increasing dividends signals confidence in future earnings and provides a steady income stream for investors, enhancing shareholder value.

Negative Factors

Decline in Average Deposits

A decline in deposits can limit M&T Bank's ability to fund loans and generate interest income, potentially impacting future growth and profitability.

Increased Net Charge-offs

Rising charge-offs indicate deteriorating credit quality, which could lead to higher provisions and reduced earnings over time.

Pressure on CRE Balances

Declining CRE balances may signal reduced demand or increased risk, potentially affecting M&T Bank's revenue from this segment.

M&T Bank Business Overview & Revenue Model

Company Description

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers. The company's Commercial Real Estate segment originates, sells, and services commercial real estate loans; and offers deposit services. Its Discretionary Portfolio segment provides deposits; securities, residential real estate loans, and other assets; and short and long term borrowed funds, as well as foreign exchange services. The company's Residential Mortgage Banking segment offers residential real estate loans for consumers and sells those loans in the secondary market; and purchases servicing rights to loans originated by other entities. Its Retail Banking segment offers demand, savings, and time accounts; consumer installment loans, automobile and recreational finance loans, home equity loans and lines of credit, and credit cards; mutual funds and annuities; and other services. The company also provides trust and wealth management; fiduciary and custodial; insurance agency; institutional brokerage and securities; and investment management services. It offers its services through banking offices, business banking centers, telephone and internet banking, and automated teller machines. As of December 31, 2021, the company operates 688 domestic banking offices in New York State, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia; and a full-service commercial banking office in Ontario, Canada. M&T Bank Corporation was founded in 1856 and is headquartered in Buffalo, New York.

How the Company Makes Money

M&T Bank generates revenue through several key streams primarily related to its banking operations. The largest source of income comes from net interest income, which is the difference between the interest earned on loans and the interest paid on deposits. The bank also earns non-interest income through fees for services such as account maintenance, ATM usage, and transaction services. Additionally, M&T Bank engages in investment banking, providing advisory services and capital market solutions to corporate clients, which contributes to its revenue. Significant partnerships with other financial institutions and businesses enhance its offerings and customer base, further supporting its earnings. Economic factors such as interest rates and loan demand, as well as regulatory changes, also influence the bank's financial performance.

M&T Bank Financial Statement Overview

Summary

M&T Bank demonstrates strong profitability and cash flow generation, with some concerns regarding revenue growth and increasing leverage. The company maintains efficient operations and a stable capital structure, but should focus on improving revenue growth and managing debt levels to enhance financial stability.

Income Statement

M&T Bank's income statement shows a strong gross profit margin of 73.5% for TTM, indicating efficient cost management. However, the net profit margin has slightly decreased to 22.5% from 24.8% in 2022, reflecting some pressure on profitability. Revenue growth has been negative at -6.65% for TTM, which is a concern, but the company has maintained stable EBIT and EBITDA margins around 29.3% and 32.4%, respectively, showcasing operational efficiency.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 0.52 for TTM, which is manageable but has increased from previous years, indicating a rise in leverage. Return on equity is healthy at 9.6%, though slightly down from 10.2% in 2023, suggesting effective use of shareholder funds. The equity ratio stands at 13.6%, showing a stable capital structure, but there's room for improvement in reducing debt levels.

Cash Flow

Cash flow analysis reveals a robust free cash flow growth rate of 37.5% for TTM, highlighting strong cash generation capabilities. The operating cash flow to net income ratio is low at 1.89%, suggesting potential volatility in cash flow relative to earnings. However, the free cash flow to net income ratio is solid at 94.7%, indicating efficient conversion of earnings into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.32B	13.40B	12.51B	8.44B	6.08B	6.28B
Gross Profit	9.06B	8.62B	8.75B	7.50B	6.04B	5.15B
EBITDA	4.00B	3.82B	4.12B	3.05B	2.78B	2.09B
Net Income	2.77B	2.59B	2.74B	1.99B	1.86B	1.35B
Balance Sheet
Total Assets	211.28B	208.10B	208.26B	200.73B	155.11B	142.60B
Cash, Cash Equivalents and Short-Term Investments	37.95B	35.33B	40.35B	37.35B	47.22B	30.04B
Total Debt	14.99B	13.66B	13.52B	7.52B	3.53B	4.44B
Total Liabilities	182.55B	179.08B	181.31B	175.41B	137.20B	126.41B
Stockholders Equity	28.73B	29.03B	26.96B	25.32B	17.90B	16.19B
Cash Flow
Free Cash Flow	4.07B	3.39B	3.65B	4.36B	2.57B	616.90M
Operating Cash Flow	4.16B	3.61B	3.90B	4.57B	2.71B	789.19M
Investing Cash Flow	-1.24B	-550.00M	-7.87B	16.59B	-13.63B	-22.02B
Financing Cash Flow	-3.73B	-2.88B	4.18B	-20.98B	10.70B	21.35B

M&T Bank Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 182.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTB, the sentiment is Negative. The current price of 182.75 is below the 20-day moving average (MA) of 183.85, below the 50-day MA of 188.85, and below the 200-day MA of 184.50, indicating a bearish trend. The MACD of -0.92 indicates Negative momentum. The RSI at 44.61 is Neutral, neither overbought nor oversold. The STOCH value of 18.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MTB.

M&T Bank Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HBAN	77 Outperform	$24.18B	10.79	10.37%	3.91%	5.73%	38.39%
RF	76 Outperform	$21.31B	10.69	11.43%	4.19%	4.00%	28.54%
MTB	74 Outperform	$28.07B	11.25	9.60%	3.05%	-0.81%	20.34%
FITB	72 Outperform	$27.42B	12.36	11.52%	3.64%	0.15%	11.62%
CFG	71 Outperform	$21.35B	13.95	6.71%	3.39%	-3.93%	40.62%
KEY	69 Neutral	$18.96B	21.22	5.82%	4.75%	3.86%	5473.29%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

M&T Bank Corporate Events

M&T Bank’s Earnings Call: Strong Performance Amid Challenges

M&T Bank Corporation’s recent earnings call conveyed a generally positive sentiment, underscored by strong financial performance and notable progress in sustainability initiatives. The bank’s leadership expressed satisfaction with improved asset quality and increased dividends, although they acknowledged challenges such as declining average deposits and increased net charge-offs.

M&T Bank Reports Strong Q3 2025 Earnings

M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York, primarily engaged in providing banking products and services across the eastern United States. The company also offers trust-related services through its Wilmington Trust-affiliated companies.

M&T Bank Reports Strong Q3 2025 Financial Results

On October 16, 2025, M&T Bank Corporation announced its third quarter 2025 financial results, reporting a net income of $792 million, or $4.82 per diluted share. The results indicate a strong financial performance with an increase in net interest income and noninterest income compared to previous quarters, reflecting positively on the company’s operational efficiency and market position.

The most recent analyst rating on (MTB) stock is a Hold with a $207.50 price target. To see the full list of analyst forecasts on M&T Bank stock, see the MTB Stock Forecast page.

M&T Bank Highlights Strategic Priorities in New Presentation

On September 9, 2025, M&T Bank Corporation released an investor presentation highlighting its strategic priorities and financial performance. The presentation emphasized M&T’s consistent profitability advantage over peers, its focus on expanding markets in New England and Long Island, and its commitment to simplifying operations to enhance customer and employee experiences. The bank also reported receiving multiple awards for its services in the small business and middle-market categories, showcasing its strong industry positioning.

The most recent analyst rating on (MTB) stock is a Buy with a $223.00 price target. To see the full list of analyst forecasts on M&T Bank stock, see the MTB Stock Forecast page.

M&T Bank Closes $750M Subordinated Notes Offering

On July 30, 2025, M&T Bank Corporation successfully closed a public offering of $750 million in 5.400% Fixed Rate Reset Subordinated Notes, Series B, due in 2035. This move is part of M&T’s strategic financial operations, potentially impacting its market positioning and offering opportunities for stakeholders.

The most recent analyst rating on (MTB) stock is a Buy with a $210.00 price target. To see the full list of analyst forecasts on M&T Bank stock, see the MTB Stock Forecast page.