M&T Bank (MTB) AI Stock Analysis

• Market Cap: $28.95B
• Dividend Yield: 3.03%
• Average Volume (3M): 1.33M
• Price to Earnings (P/E): 11.4
• Beta (1Y): 0.97
• Revenue Growth: -0.66%
• EPS Growth: 20.36%
• Country: US
• Employees: 22,291
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 4.82
• Shares Outstanding: 156,269,290
• 10 Day Avg. Volume: 1,726,961
• 30 Day Avg. Volume: 1,325,941
• 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: 1.60
• Enterprise Value/Revenue: 3.76
• Enterprise Value/Gross Profit: 5.12
• Enterprise Value/Ebitda: 11.60
• 1Y Price Target: $221.90
• Price Target Upside: 21.31% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 16

• Rating: 70 Outperform
• Price Target: $196.00 ▲(7.15% Upside)

M&T Bank's overall stock score reflects strong financial performance and attractive valuation, bolstered by positive earnings call insights. However, technical analysis indicates bearish momentum, which tempers the overall score. The bank's robust dividend yield and reasonable P/E ratio are significant strengths, while challenges in revenue growth and cash flow conversion present areas for improvement.

Positive Factors

Fee Income Growth

The 11% growth in fee income indicates strong performance in non-interest revenue streams, which can enhance profitability and provide stability against interest rate fluctuations.

Asset Quality Improvement

Improved asset quality through reduced criticized balances strengthens the bank's risk profile, enhancing long-term financial stability and reducing potential future credit losses.

Strong Liquidity Position

A robust liquidity position with significant cash reserves supports operational flexibility and risk management, ensuring the bank can meet obligations and seize growth opportunities.

Negative Factors

Decline in Net Income

A significant decline in net income can impact the bank's ability to reinvest in growth initiatives and return value to shareholders, posing a challenge to long-term profitability.

Net Interest Margin Decline

A declining net interest margin suggests pressure on the bank's core lending profitability, which could affect future earnings if not addressed through strategic adjustments.

Increase in Non-Accrual Loans

An increase in non-accrual loans indicates rising credit risk, which could lead to higher loan losses and negatively impact the bank's financial health if not managed effectively.

M&T Bank Business Overview & Revenue Model

Company Description

M&T Bank Corporation (MTB) is a bank holding company headquartered in Buffalo, New York. It operates primarily in the financial services sector, offering a wide range of banking and financial products to individuals, businesses, and institutions. Its core services include commercial banking, retail banking, investment services, mortgage banking, and treasury services. M&T Bank is known for its community-oriented approach, serving customers across various states in the Northeast and Mid-Atlantic regions of the United States.

How the Company Makes Money

M&T Bank generates revenue primarily through net interest income and non-interest income. Net interest income is derived from the difference between the interest earned on loans and the interest paid on deposits and borrowings. The bank offers various loan products, including commercial loans, residential mortgages, and consumer loans, which contribute significantly to its interest income. Non-interest income comes from fees associated with services such as account maintenance, transaction processing, wealth management, and investment services. Additionally, M&T Bank benefits from strategic partnerships with other financial institutions and technology providers that enhance its service offerings and operational efficiency. The bank's revenue model is further supported by its focus on maintaining a strong loan portfolio and expanding its customer base through targeted marketing and community engagement.

M&T Bank Financial Statement Overview

Summary

M&T Bank demonstrates strong profitability and operational efficiency, with healthy margins and a balanced leverage position. However, challenges in revenue growth and cash flow conversion highlight areas for improvement. The bank's financial stability is supported by a solid equity base and effective cost management.

Income Statement

M&T Bank's income statement shows a strong gross profit margin of 67.31% for TTM, indicating efficient cost management. However, the revenue growth rate has declined by 0.61% in the TTM period, reflecting a potential challenge in expanding revenue streams. The net profit margin remains healthy at 20.48%, showcasing profitability despite revenue challenges. EBIT and EBITDA margins are robust, suggesting operational efficiency.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 0.51, indicating a balanced approach to leveraging. Return on equity is solid at 9.36%, demonstrating effective use of shareholder funds. The equity ratio is not directly provided, but the overall equity position appears stable, supporting financial resilience.

Cash Flow

Cash flow analysis reveals a decline in free cash flow growth by 13.70% in the TTM period, which could impact liquidity. However, the operating cash flow to net income ratio is low at 0.019, suggesting potential challenges in converting income into cash. The free cash flow to net income ratio is strong at 94.69%, indicating good cash generation relative to profits.

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	38.81B	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: 182.92
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 182.92 is below the 20-day moving average (MA) of 186.44, below the 50-day MA of 193.31, and below the 200-day MA of 185.27, indicating a bearish trend. The MACD of -3.49 indicates Negative momentum. The RSI at 41.47 is Neutral, neither overbought nor oversold. The STOCH value of 60.48 is Neutral, 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	―	$25.17B	11.26	10.37%	3.91%	5.99%	38.40%
FITB	―	$28.22B	12.75	11.52%	3.54%	-1.74%	11.62%
RF	―	$21.92B	10.83	11.43%	4.19%	4.28%	28.54%
CFG	―	$22.51B	14.64	6.71%	3.24%	-3.70%	40.62%
MTB	―	$28.95B	11.41	9.61%	3.03%	-0.66%	20.36%
Sector *	―	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
KEY	―	$19.54B	21.94	5.82%	4.60%	3.97%	5473.29%

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.